Sigma-Aldrich to Sell Assets to Honeywell to Fulfill EU Commitments for Acquisition by Merck KGaA
Sigma-Aldrich Corporation (NASDAQ: SIAL) today announced that it agreed to sell its Sigma-Aldrich-branded solvents and inorganics business in the EEA to Honeywell (NYSE: HON); 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
Posted-In: M&A News Contracts Asset Sales Press Releases
