Drugs and chemicals maker Merck KGaA on 22 September 2014 announced to acquire U.S. based Sigma-Aldrich Company for 17 billion US dollar in cash to boost its lab supplies business.
The deal is the biggest ever takeover in the German group's history. The deal will help Merck to focus on supplying major pharmaceutical companies and academic institutions with chemicals and services.
The deal will see Merck acquire all shares for 140 US dollar a piece in cash. Further, the deal was approved by Sigma-Aldrich's management and needed approval from more than 50 percent of the target's shareholders.
Sigma is the world's largest supplier of biochemicals and organic chemicals to research laboratories.
Sigma provides big pharma groups including Pfizer and Novartis with lab substances such as cell culture substrates.
It also makes high-purity inorganic chemicals for the high-tech sector and food and beverage testing products.
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Merck's new Merck Millipore lab supplies business would gain more exposure in North America, which accounts for half of the world's life science market, and to Asia's emerging markets, taking on global players such as Thermo Fisher.
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