FRANKFURT May 9 German chemicals and
pharmaceuticals company Merck KGaA told shareholders
on Friday it had the financial firepower for more takeovers
after bagging Britain's AZ Electronic Materials for
"We are able to take ambitious steps. We can afford
investments and acquisitions," Chief Executive Karl-Ludwig Kley
said in a speech at the group's annual general meeting.
Its strong cash flow would allow it to swiftly pay back any
"We will use this leeway over the next few years," Kley
Merck, the world's largest maker of liquid crystals for
display screens, completed the takeover of AZ last week. It
plans to delist the maker of high-tech chemicals for tablet
computers and smart phones from the London Stock Exchange at the
beginning of June.
(Reporting by Frank Siebelt; Writing by Ludwig Burger; Editing
by Kirsti Knolle)