Merck to Close on Sigma-Aldrich in Q4

German chemicals and pharmaceuticals producer Merck KGaA said this week it now expects to close its € 13.1 billion acquisition of Sigma-Aldrich some time during the fourth quarter following the sale of certain of the US company’s solvents and inorganics assets.

Merck said it has obtained all necessary antitrust approvals, and negotiations with potential buyers of the assets the European Commission has mandated Sigma-Aldrich shed are in the final stages. However, the EC will require time to approve the buyers.

At the end of August, after completing its financing package for the acquisition with the placement of a € 2.1 billion bond, the Darmstadt-based company said it hoped to close the transaction in the third quarter.

“We are diligently working on fulfilling the EU commitments,” said Bernd Reckmann, member of the Merck KGaA executive board and CEO Life Science. He said the company has been “making very good progress” and is looking forward to swiftly integrating Sigma-Aldrich.

The deal announced in September 2018 is part of Merck’s “Fit for 2018” transformation and growth program.