Deals
Merck KGaA to Buy Chemical Maker AZ for $2.6 Billion
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Merck KGaA agreed to buy AZ Electronic Materials SA for about 1.6 billion pounds ($2.6 billion) in cash to boost its offering of specialty chemicals to the electronics industry.
AZ stockholders will receive 403.5 pence for each share, the Darmstadt, Germany-based drug and chemical company said in a statement today. The price is 53 percent above the closing level yesterday in London trading.