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Merck extends AZ offer

4:37 PM MDT | March 24, 2014

Merck KGaA has agreed to extend, for a third time, its recommended cash offer for AZ Electronic Materials (Luxembourg). The offer now expires on 18 April. Merck agreed in December 2013 to acquire AZ for about £1.6 billion ($2.6 billion). Merck is offering £4.035/share in cash. Merck says it expects to obtain antitrust clearance from China by 18 April, and that the necessary antitrust clearances have been granted in Germany, Japan, Taiwan, and the United States. Merck says that, as of 14 March, it had received valid acceptances of the offer from shareholders...

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