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Business News/ Companies / News/  Merck KGaA to buy Sigma-Aldrich for $17 billion to add chemicals
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Merck KGaA to buy Sigma-Aldrich for $17 billion to add chemicals

Merck will pay $140 a share in cash, 37% more than Sigma-Aldrich's closing price on September

The purchase will accelerate Merck’s shift away from developing pharmaceuticals at a time when its Serono biotechnology business has struggled to create new products. Photo: BloombergPremium
The purchase will accelerate Merck’s shift away from developing pharmaceuticals at a time when its Serono biotechnology business has struggled to create new products. Photo: Bloomberg

Paris: Merck KGaA, a German drug and chemical company, agreed to buy Sigma-Aldrich Corp. for $17 billion in cash to expand in chemicals used in research laboratories.

Merck will pay $140 a share in cash, 37% more than Sigma-Aldrich’s closing price on September, the Darmstadt, Germany-based company said in a statement on Monday.

The purchase will accelerate Merck’s shift away from developing pharmaceuticals at a time when its Serono biotechnology business has struggled to create new products. The company acquired Millipore Corp., a US maker of lab equipment and chemicals, in 2010 for about $6 billion.

Merck shares fell less than 0.1% to €69.58 at 12.05pm in Frankfurt. Bloomberg

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Published: 22 Sep 2014, 04:28 PM IST
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