Merck buys US biotech group

Viliyana Filipova — Wed, 03 Mar 2010 04:30:33 +0000

Germany’s chemical-pharmaceutical company, Merck has entered into an agreement to buy U.S. biotech group Millipore, the value of the transaction amounted to 5,3 billion euros, says a joint release of both companies. In the value of the transaction are included and obligations of the acquiree. Agreement was approved by the boards of the groups. Merck will fund the purchase as its own cash and a loan from a consortium of banks including the U.S. Bank of America, France’s BNP Paribas and Germany’s Commerzbank. It is expected that approval of the transaction by shareholders of companies, as well as U.S. and European antitrust authorities. According to the Merck acquisition will be finalized in the second half of 2010. Communication for the purchase of Millipore comes less than a week after the company announced that its looking for a new owner. For 2009, the U.S. company has a net profit of 177 million and sales of 1.65 billion dollars. Group employs approximately 6100 people worldwide.
By Merck says the deal “fully compliant” in its strategy, which consists in placing the emphasis on specialty products, providing large margins and attractive growth prospects.

Financial Communique » acquiree

Merck buys US biotech group