Sigma-Aldrich Acquisition Approved

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The deal now awaits regulatory approval. On December 12, Moody’s downgraded Merck’s credit rating from A3 to Baa1, citing an expected increase in the company’s debt due to the transaction.

St. Louis, MO 12/5/14; Washington, DC 12/5/14; Darmstadt, Germany 12/5/14; Darmstadt, Germany 12/8/14—Sigma-Aldrich shareholders have approved the company’s acquisition by Merck KGaA for $17 billion (see IBO 9/30/14). Approximately 78% of shareholders approved the proposal. In connection with the purchase, Merck announced the issuance of a €1.5 billion ($1.8 billion = $1 = €0.81) hybrid bond.

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