Updated on 16 April 2015
Merck has announced the planned acquisition of US life science company Sigma-Aldrich
Singapore: Mr Udit Batra, CEO and president of German firm, Merck's lifescience business, will be heading the business of Merck post acquisition of Sigma-Aldrich.
The planned $17 billion transaction remains subject to customary closing conditions and regulatory approvals, which the company expects to complete by mid-2015. Until then, the lifescience business of Merck and Sigma-Aldrich will continue to operate as separate companies with Mr Udit Batra and Mr Rakesh Sachdev, president and CEO of Sigma-Aldrich, running both organizations independently. Mr Rakesh Sachdev will serve in an advisory capacity, as needed, to ensure a smooth transition.
"Today's appointment marks another important step in the acquisition of Sigma-Aldrich as it provides stable and strong leadership and continued customer focus during the crucial months of integration planning and beyond," said Mr Karl-Ludwig Kley, chairman of the executive board of Merck, Germany. "Udit is a proven leader who has demonstrated his ability to work successfully with his leadership team to guide large organizations, drive performance and deliver to our customers. I also want to express my gratitude to the Sigma-Aldrich employees for building the organization into a leading global life science tools company and to Rakesh, personally, for providing excellent leadership to the Sigma-Aldrich organization, both culturally and as demonstrated by the company's strong performance."
Merck has announced the planned acquisition of the US lifescience company Sigma-Aldrich as part of its "Fit for 2018" transformation and growth strategy aimed at building three strong platforms for sustainable, profitable growth. If approved, the acquisition will be the largest in the company's almost 350-year history and marks an inflection point for both companies as it will deliver significant customer benefits, including a broader, complementary range of products and capabilities, greater investment in breakthrough innovations, enhanced customer service and a leading e-commerce and distribution platform in the $130 billion global lifescience industry.