By Ludwig Burger and Paul Sandle FRANKFURT/LONDON (Reuters) – Merck, the world’s largest maker of liquid crystals used in TVs, tablet and smartphone screens, has agreed to buy Britain’s AZ Electronic Materials for $2.6 billion to expand its range of specialist chemicals for hi-tech gadgets. Germany’s family controlled Merck, which also makes cancer drugs and laboratory equipment, will pay 403.5 pence per share in cash for the supplier of chemicals used in Apple’s iPad, a 41 percent premium to AZ’s three-month average share price. While many of Merck’s peers in the pharmaceuticals industry are selling assets to focus on core businesses, Merck’s deal underscores its position as a diversified group, with the family behind it seeking to spread its investment risk. “Our philosophy has always been to never put all eggs in one basket,” finance chief Matthias Zachert told reporters on Thursday.
Germany’s Merck to buy hi-tech materials firm AZ for $2.6 billion
05
Dec
2013
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