Merck posts offer to acquire AZ Electronic Materials

In its $2.6 billion bid to acquire AZ Electronic materials, Germany's Merck KGaA posted the offer document to AZ shareholders on Dec. 20. The document contains the full terms and conditions along with the related form of acceptance. The AZ board has unanimously recommended acceptance.

The offer period will run until mid-February. Merck has offered £1.6 billion (nearly €2 billion) in cash for the Luxembourg-based firm, which manufactures anti-reflective coatings used in hard disc drives, as well as specialty chemicals for the graphic arts sector and shrink coatings used in memory devices. AZ had sales of $794 million (€584 million) in 2012.