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Comment Business & Economics

Merck KGaA to acquire Sigma-Aldrich for $17 billion    

By Gerald Ondrey |

Merck KGaA (Darmstadt, Germany; www.merckgroup.com) Sigma-Aldrich (St. Louis, Mo.; www.sigma-aldrich.com) have entered into a definitive agreement under which Merck will acquire Sigma-Aldrich for $17.0 billion (€13.1 billion), establishing one of the leading players in the $130 billion global life science industry. Merck will acquire all of the outstanding shares of Sigma-Aldrich for $140 per share in cash. The agreed price represents a 37% premium to the latest closing price of $102.37 on September 19, 2014, and a 36% premium to the one-month average closing price. The transaction is expected to be immediately accretive to Merck’s EPS pre and EBITDA margin. Merck expects to achieve annual synergies of approximately €260 million (approximately $340 million), which should be fully realized within three years after closing. “This transaction marks a milestone on our transformation journey aimed at turning our three businesses into sustainable growth platforms”, says Karl-Ludwig Kley, chairman of Merck’s Executive Board. “For our life science business it’s even more than that: it’s a quantum leap. In one of the world’s key industries two companies that fit perfectly together have…
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