Sigma-Merck Vote Scheduled

According to the proxy statement, acquisition talks began in July and Merck initially offered Sigma $135 per share. After three price increases, the companies agreed on $140 per share in cash.

St. Louis, MO 11/3/14; Washington, DC 11/3/14; Washington, DC 11/25/14—Sigma-Aldrich has announced that it will hold a special stockholder meeting on December 5 to vote on Merck KGaA’s proposed acquisition of the company (see IBO 9/30/14). In addition, Sigma announced an agreement to settle one of three putative class-action suits brought by shareholders against the company related to the acquisition, alleging a breach a fiduciary duties by “failing to take appropriate steps to maximize the value of Sigma-Aldrich.” The other two cases will be dismissed. As part of the settlement, Sigma agreed to make certain supplemental disclosures to its proxy statement regarding the acquisition.

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