Millipore Shareholders OK $6B Sale to Merck KGaA
BILLERICA, Mass. (AP) — Biotech equipment maker Millipore Corp. said Thursday its shareholders have approved the company's $6 billion sale to German drug and chemical maker Merck KGaA.
The $107-per-share deal was announced in February and represented about a 50 percent premium to the company's stock price before buyout speculation. Including assumed debt, Merck KGaA values the deal at $7.2 billion.
Millipore said holders of about 79 percent of the company's outstanding shares voted at the special meeting, with about 98 percent of them favoring the deal.
Completion of the transaction is expected early in the third quarter, pending antitrust clearance.
Millipore shares were up 6 cents at $106.41 in afternoon trading.