Merck KGaA Completes Acquisition of AZ Electronic Materials

Merck KGaA announced the completion of its acquisition of AZ Electronic Materials, creating a leading solutions provider in the premium segment of high-tech materials and functional specialty chemicals.

In December 2013, Merck KGaA, had made a recommended cash offer totalling approximately €1.9 billion to acquire AZ Electronic Materials, which had annual sales of $730 million. The completion of the transaction follows the satisfaction of all customary conditions, including an acceptance level of 75 percent and antitrust clearances. With 81.3% under control, Merck will now start the process of delisting AZ and its shares from the London Stock Exchange, with a delisting expected for the beginning of June.

Merck KGaA still intends to acquire all outstanding shares of AZ and will keep the offer open for acceptances until further notice.

“The successful completion of the AZ acquisition marks a significant milestone in Merck KGaA’s ‘Fit for 2018’ transformation and growth program,” said Karl-Ludwig Kley, chairman of Merck KGaA’s Executive Board. “With AZ not only will we be able to further expand our presence in the important Asian growth market, but we will also be able to raise our exposure to exciting global megatrends in electronic materials – from smart
phones to the most advanced computing devices.”

Merck KGaA will now swiftly start the integration of AZ, which employs around 1,150 people worldwide. The company expects all major steps of the integration to be completed by the end of 2014.