Sigma-Aldrich Announces Agreement on Assets Sale to Honeywell
News Oct 20, 2015
Sigma-Aldrich Corporation has announced that it agreed to sell its Sigma-Aldrich-branded solvents and inorganics business in the EEA to Honeywell. The sale will also include global rights to the Company's Fluka® brand. This sale is intended to fulfill the commitments the Company made to the European Union in order to receive final approval for the sale of the Company to Merck KGaA of Darmstadt, Germany.
Merck will now submit the Honeywell agreement to the European Commission, which has to approve the transaction in order for Merck to complete the acquisition of Sigma-Aldrich. The European Commission previously provided conditional approval of that transaction on June 15, 2015.
Merck and Sigma-Aldrich announced on September 22, 2014 that they had entered into a definitive agreement under which Merck would acquire all outstanding shares of Sigma-Aldrich for $140 per share in cash. In addition to the confirmation of approval from the European Union, the closing follows the approval of the acquisition by Sigma-Aldrich's shareholders at a special meeting held on December 5, 2014, and the satisfaction of other customary conditions, including antitrust clearance in the United States, China, Japan and several other regions.