Merck KGaA, Darmstadt, Germany to acquire Intermolecular Inc.
Category: #health  By Pankaj Singh  Date: 2019-05-07
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Merck KGaA, Darmstadt, Germany to acquire Intermolecular Inc.

Reportedly, the Executive Board of Merck KGaA, Darmstadt, Germany and Intermolecular's Board of Directors have unanimously approved the acquisition.

Intermolecular Inc., an advanced materials innovation company, has reportedly inked a definitive agreement pursuant to which the subsidiary of Merck KGaA, Darmstadt, Germany, would buy Intermolecular for $1.20 per share in an all cash transaction. As per trusted sources, the deal shows the equity value of Intermolecular at around $62 million.

Reportedly, the Executive Board of Merck KGaA, Darmstadt, Germany and Intermolecular's Board of Directors have unanimously approved the acquisition.

Chris Kramer, Chief Executive Officer and President, Intermolecular, reportedly stated that the company is pleased to become Merck KGaA’s integral part and looking forward to all the new and exciting opportunities for employees and customers.

Kai Beckmann, CEO of Performance Materials and Member of the Executive Board, Merck KGaA, Darmstadt, Germany, reportedly stated that the unique capabilities of Intermolecular in rapid material screening, combined with the R&D pipeline of Merck KGaA, Darmstadt, Germany, will enable the company to offer faster material innovation, through full performance testing, characterization, and parallel composition experiment. The company is excited to collaborate with Intermolecular and create significant advantages for customers in comparison with conventional materials R&D, he further added.

The transaction is anticipated to close in second half of the year 2019, subject to the approval of shareholders of Intermolecular, satisfaction of other customary closing conditions and clearance by the Committee on Foreign Investment in the United States (CFIUS).

Reportedly, as a result of the transaction, a previously scheduled conference call on May 14, 2019 will not be held by Intermolecular.

For the record, Intermolecular will be acquired by EMD Group Holding II, Inc., a wholly owned subsidiary of Merck KGaA, Darmstadt, Germany.

For the record, Latham & Watkins LLP served as Intermolecular's legal advisor and Cowen served as exclusive financial advisor to Intermolecular. Nixon Peabody LLP served as legal advisor for Merck KGaA, Darmstadt, Germany.

Source link: https://www.benzinga.com/pressreleases/19/05/r13672037/intermolecular-to-be-acquired-by-merck-kgaa-darmstadt-germany-for-1-20-per-share-in-an-all-cash-tr

https://www.merckgroup.com/content/dam/web/corporate/non-images/press-releases/2019/may/en/Press-Release-IMI-EN.pdf



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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