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Merck KGaA says completes acquisition of AZ Electronic

Reuters - UK Focus

FRANKFURT, May 2 (Reuters) - German chemicals and pharmaceuticals company Merck KGaA (Other OTC: MKGAF - news) said it had completed its takeover of Britain's AZ Electronic Materials , after extending its offer for a seventh time earlier in the week.

Merck said in a statement on Friday it had 81.3 percent of AZ under its control - passing the 75 percent threshold needed - and expected to delist the company from the London Stock Exchange at the beginning of June.

It added that it had gained antitrust clearances in the United States, Japan, Taiwan, Germany and China.

Merck said it still intended to acquire all outstanding shares of AZ and would keep its offer open until further notice.

The world's largest maker of liquid crystals used in TVs and tablet and smartphone screens, Merck agreed in December to buy AZ for $2.6 billion to expand its range of specialist chemicals for hi-tech gadgets. (Reporting by Jonathan Gould; editing by Jason Neely)