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Merck Agrees To Buy Sigma Aldrich for $17 Billion

Merck KGaA, a Germany based drugs and chemicals makers, has agreed to buy U.S. based Sigma Aldrich for $17 billion in cash. The deal allows Merck to focus on supplying pharmaceutical companies and academic institutions with chemicals and services. Marcus Kuhnert, finance chief form Merck said, “With this acquisition we have the opportunity to turn one of our most reliable businesses into a core earning contributor.” The deal still needs approval from over 50% of Sigma’s shareholders. Merck is buying the company for $140 a share, which is a 36% premium over a monthly average of closing prices.