Merck KGaA to Pay $17B for Sigma-Aldrich Lab-Supply Biz

Sep 22, 2014

Reuters

Merck KGaA announced it will acquire U.S.-based Sigma-Aldrich Corp. for $17 billion in cash to boost its lab supplies business -- the biggest takeover in the German group's history -- according to a Reuters article.

The deal is said to help Merck focus more on supplying drugmakers and academic institutions with chemicals and services, seen as offering a steadier income stream than drug development.

"With this acquisition we have the opportunity to turn one of our most reliable businesses into a core earnings contributor," said finance chief Marcus Kuhnert. Read the full article