FRANKFURT:
German liquid crystal maker Merck KGaA has extended the offer period
for its planned takeover of Britain's AZ Electronic Materials for a
fourth time as it awaits approval for the deal from Chinese antitrust
regulators.
"While
discussions with the Ministry of Commerce of the People's Republic of
China (MOFCOM) are proceeding constructively and are advancing, MOFCOM's
review is still continuing," Merck said in a statement on Friday.
Shareholders
now have until March 14 to tender their stock. The previous offer
period would have expired on Feb. 28. Merck, the world's largest maker
of liquid crystals used in TVs and tablet and smartphone screens, agreed
in December to buy AZ for $2.6 billion to expand its range of
specialist chemicals for hi-tech gadgets.
It
said on Friday that 64 percent of AZ shares had been tendered. Merck
has made its offer contingent on securing at least 95 percent of the
share capital.
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