Unconditional approval from Brazil’s Council for Economic Defense (CADE), which was the final outstanding country, was received. This clearance becomes effective after a common waiting period of 15 days. It follows recently received antitrust approvals from the competition authorities of Israel (IAA) and South Korea (KFTC).
The company expects a completion of the transaction in the third quarter 2015. The closing of the transaction is still subject to the commitments made to the European Commission, following its conditional approval of the transaction, announced on June 15, 2015. As a result, Merck KGaA and Sigma-Aldrich have agreed to sell parts of Sigma-Aldrich’s solvents and inorganics business in Europe.
“Securing antitrust approvals in all relevant jurisdictions brings us very close to our big goal: transforming the life science industry with an enhanced product portfolio, greater capabilities and a broader geographic reach,” said Bernd Reckmann, member of the Executive Board of Merck KGaA. “We are now working with all related parties on the divestments as agreed with the European Commission in order to swiftly complete the transaction.”
On Sept. 22, 2014, Merck KGaA and Sigma-Aldrich announced they entered into a definitive agreement under which Merck KGaA, Darmstadt, Germany, 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.