The acquisition, contingent on the approval by antitrust authorities and a minimum acceptance level of 95% of the shares, will boost Merck’s offering of specialty chemicals to the electronics industry.
AZ stockholders will receive GBP403.5 pence for each share. Merck has been expanding outside of drugs since 2010 and the acquisition of Merck adds further potential to its liquid crystals business. The purchase of AZ Electronics will strengthen the industrial-materials unit that has driven Merck’s sales growth in recent years.
Partners Richard Browne and Michael Ulmer led on the deal, together with partner Mark Feider. They were assisted by counsel Philippe Thiebaud, senior associates Annabelle Croker and Tobias Greven and associate Sarah Thomas. Partners Ellen Braun, counsel François Renard, senior associate Tim Schaper and associate Vera Thiemann provided antitrust advice.
