Merck Receives Final Antitrust Clearance for AZ

Germany's Merck KGaA has received final clearance for the takeover of AZ Electronic Materials. This follows approval of the deal by China's Ministry of Commerce (MOFCOM).

Merck said the go-ahead from China means that the last antitrust hurdle has been taken. AZ shareholders now have until May 7 to tender their shares.

In December 2013, the Darmstadt-based chemicals and pharmaceuticals producer offered £1.6 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.

The offer was extended several times.