Merck Obtains US Antitrust Clearance for Acquisition of Sigma-Aldrich
Merck continues to expect the transaction to close in mid-2015
Merck announced that it has obtained antitrust clearance from the United States Federal Trade Commission (FTC) for its planned acquisition of US-based life science company Sigma-Aldrich.
The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) in connection with its proposed acquisition of Sigma-Aldrich Corporation expired on December 22, 2014, thereby completing the US HSR Act antitrust notification and review requirement for the two companies.
US antitrust clearance satisfies a condition to closing the transaction, which remains subject to certain other closing conditions, including regulatory approval in other jurisdictions. Sigma-Aldrich shareholders have already approved the acquisition at a special meeting in St. Louis, Missouri, USA on December 5, 2014. Merck continues to expect the transaction to close in mid-2015.
On September 22, 2014, Merck and Sigma-Aldrich announced that they had entered into a definitive agreement under which Merck will acquire Sigma-Aldrich for $17.0 billion (€13.1 billion), establishing one of the leading players in the $130 billion global life science industry. The acquisition is a key element in Merck’s “Fit for 2018” transformation and growth program aimed at strengthening the company’s three growth platforms, healthcare, life science and performance materials.
The combined company would be able to serve life science customers around the world with a highly attractive set of established brands and an efficient supply chain that can support the delivery of more than 300,000 products. In the Laboratory & Academia business, together Merck Millipore and Sigma-Aldrich would offer their customers a complementary range of products across laboratory chemicals, biologics and reagents. In pharma and biopharma production, Sigma-Aldrich would complement Merck Millipore’s existing products and capabilities with additions along the entire value chain of drug production and validation.
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