Merck KGaA’s planned $17 billion acquisition of Sigma-Aldrich is set to be completed on November 18 following final approval of the blockbuster deal by the European Commission, the life sciences tools and technologies giant said today.
The EC approval followed its determination that Honeywell was a suitable buyer of Sigma-Aldrich’s laboratory research chemicals business. The divestment was directed by the EC in June as a condition for its approval of Sigma-Aldrich’s acquisition by Merck, first announced in September 2014.
Last month, Honeywell said it would acquire parts of Sigma-Aldrich’s solvents and inorganics operations for about €105 million ($112 million). Honeywell said the deal would build on its existing portfolio of Burdick & Jackson® high-purity solvents and reagents.
Honeywell’s announcement came almost a month after Sigma-Aldrich said it expected the Merck acquisition to close by the end of November.
Sigma-Aldrich’s statement today offered a faster timeframe for wrapping up the Merck deal than what the company disclosed last week.
In its Form 10-Q quarterly regulatory filing, filed November 3 with the U.S. Securities and Exchange commission, Sigma-Aldrich said its merger agreement with Merck had been extended to December 22 “to enable the parties to finalize the satisfaction of the remaining conditions to closing of the transaction.”