Merck KGaA Clears Further Regulatory Review of Proposed $17 Bn Acquisition of Sigma Aldrich
Merck KGaA has has secured from approval from all relevant jurisdictions for its planned$17 billion acquisition of US-based life science company Sigma-Aldrich. Unconditional approval from Brazil's Council for Economic Defense (CADE), which was the final outstanding country, was received. This clearance becomes effective after a common waiting period of 15 days. It follows recently received antitrust approvals from the competition authorities of Israeland South Korea.
The company expects a completion of the transaction in the third quarter 2015. The closing of the transaction is still subject to the commitments made to the European Commission, following its conditional approval of the transaction, announced on June 15, 2015. As a result, Merck KGaA, Darmstadt, Germany, and Sigma-Aldrich have agreed to sell parts of Sigma-Aldrich's solvents and inorganics business in Europe.
Source: Merck KGaA