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Merck KGaA extends offer period for AZ Electronic seventh time

Reuters - UK Focus

FRANKFURT, April 30 (Reuters) - German chemicals and pharmaceuticals company Merck KGaA (Other OTC: MKGAF - news) extended the offer period for its planned takeover of Britain's AZ Electronic Materials for a seventh time after the deal was approved by Chinese antitrust regulators.

Merck said in a statement on Wednesday that shareholders of AZ Electronic now had until May 7 to accept the offer. The previous deadline was May 2.

It said by 1200 GMT on Wednesday, 63.5 percent of shares in AZ Electronic had been tendered. That still fell short of the minimum acceptance level of 75 percent.

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. (Reporting by Maria Sheahan; Editing by Pravin Char)