Merck has received Chinese antitrust clearance from the Ministry of Commerce of the People’s Republic of China (MOFCOM), meaning that the last condition relating to antitrust clearances has now been satisfied.
AZ shareholders now have until May 7 to tender their shares. With the Chinese antitrust clearance, the acceptance threshold was lowered to 75 per cent as planned. According to the UK Takeover Code, Merck can complete the transaction as soon as all conditions have been satisfied and the acceptance threshold has been reached. Apart from China, the necessary antitrust clearances in Germany, Japan, Taiwan and the US had already been granted.
“We are pleased that our constructive negotiations with MOFCOM have led to a clearance in China and that we can now swiftly complete the acquisition of AZ Electronic Materials”, said Karl-Ludwig Kley, Chairman of the Executive Board, Merck.
EP News Bureau – Mumbai