A PYMNTS Company

China: Review forces German LCD maker to delay merger for 6th time

 |  April 21, 2014

Germany-based liquid crystal manufacturer Merck has reportedly been forced to extend its offer period for its acquisition of China-based AZ Materials thanks to an extended antitrust review by Chinese regulators, say reports. Merck has already extended its offer five times so far.

In a statement, Merck said the delay will last until May 2 as China’s Ministry of Commerce continues to review the merger. Regulators have “raised certain specific concerns that Merck is working with the Chinese authorities to address,” the firm said.

The German firm is the largest maker of liquid crystals used in LDC televisions, smartphones and other product screens. The company announced last December plans to acquire the Chinese firm in a $2.6 billion deal.

Full Content: Global Times

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