FRANKFURT Feb 28 German liquid crystal maker
Merck KGaA has extended the offer period for its
planned takeover of Britain's AZ Electronic Materials
for a fourth time as it awaits approval for the deal from
Chinese antitrust regulators.
"While discussions with the Ministry of Commerce of the
People's Republic of China (MOFCOM) are proceeding
constructively and are advancing, MOFCOM's review is still
continuing," Merck said in a statement on Friday.
Shareholders now have until March 14 to tender their stock.
The previous offer period would have expired on Feb. 28.
Merck, the world's largest maker of liquid crystals used in
TVs and tablet and smartphone screens, agreed in December to buy
AZ for $2.6 billion to expand its range of specialist chemicals
for hi-tech gadgets.
It said on Friday that 64 percent of AZ shares had been
tendered. Merck has made its offer contingent on securing at
least 95 percent of the share capital.