European Union Regulators Okay Merger Of Sigma-Aldrich, Merck KGaA

(RTTNews) - Sigma-Aldrich Corp (SIAL) on Monday said the European Commission has conditionally cleared the planned acquisition of the company by German drug maker Merck KGaA (MKGAY.PK). Sigma-Aldrich also has obtained full clearance of the merger from the Chinese Ministry of Commerce.

To satisfy the conditions imposed by the EC for clearance of the merger, both Sigma-Aldrich, and Merck KGaA have agreed to sell parts of Sigma-Aldrich's solvents and inorganics chemicals business in the European Economic Area as a fully integrated, stand-alone business. This includes the rights to all solvents and inorganics sold globally under the Fluka brand.

The closing of the merger remains subject to certain other conditions including clearance by antitrust authorities in Brazil, Israel and South Korea. Both companies continue to work toward a closing date of mid-2015.

The deal has already been cleared by Japanese authorities. Antitrust clearance has also been obtained in the United States, Russia, Serbia, Ukraine, South Africa and Taiwan.

In September, Merck KGaA, Darmstadt, Germany, agreed to buy Sigma-Aldrich for $17 billion in a move to establis one of the leading players in the global life science industry.