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Merck KGaA to buy Sigma-Aldrich for $17 billion


    FRANKFURT (Reuters) - German drugs and chemicals maker Merck KGaA said on Monday it agreed to acquire Sigma-Aldrich for $17 billion in cash to boost its life science business.

    The deal, approved by Sigma-Aldrich's management, will see MERCK (MRK.NY)acquire all shares for $140 apiece in cash.

    That represents a 37 percent premium over the latest closing price of $102.37 on Sept. 19 and a 36 percent premium to the one-month average closing price, according to Merck.

    (Reporting by Ludwig Burger; Editing by Georgina Prodhan)