Read announcement today that merger can be put off to December 22, 2015. Presume this does not mean that it will take that long but more time is needed to gain approval from few remaining countries which I recall include Brazil and Israel. Any additional concrete information will be appreciated.
The conditional $0.23/share dividend must be paid today June 15th, since the Merck deal has not closed.
That will cost Merck KgG an extra $28 million.
A big thank you to all Sigma Aldrich employees for the terrific stock performance of the last twenty years!!! I used the products in research for 10 years, and then owned shares since 1995, with a basis around $9/sh. Thanks again Sigma people. You're the best!
There's a pretty good article about the deal on the yahoo news headline page. It makes it sound like the deal won't close until the 3rd quarter.
Based on price action at today's close where it even traded toward 140 for a minute, as well as after-hours where 1 million sh have traded, that might be indicative of this deal closing sooner rather than later. I won't be surprised to see some type of announcement or update soon.
Greg, it went ex-Dividend today, so the price and volume are just adjusting to this event as expected. I wouldn't worry about it. I am thinking this will close around end of June.
SIAL Investor Relations won't even answer the question: will Sigma or Merck announce the date of the closing BEFORE the closing actually occurs? So here is what I have learned from other sources: the only remaining hurdle is approval by the EU Commission which investigates the effect of the merger on competition in the fields of commerce involved. Their deadline for action is June 1, 2015. The closing could come immediately after approval, with or without a pre-announcement. The next dividend for SIAL has an of-record date of June 1, 2015, and a payment date of June 15, 2015. The dividend was announced to be "conditional" on the timing of the closing. The conditions were ambiguously stated, in my opinion. Apparently shareholders might not get the next dividend, and the closing may be near to June 1, 2015. Approval appears likely since a European company is on the buy side, and the US FTC has already approved the merger. And the shareholders and BOD of SIAL have already signed off. Finally the current price of 139 is consistent with a high probability of closure at the agreed to 140 price.