NEW YORK (GenomeWeb) – Honeywell will buy Sigma-Aldrich's research chemicals business for approximately €104 million ($118 million), the companies announced today.
The sale by Sigma-Aldrich is to fulfill commitments it made to the European Union in order to receive approval of the $17 billion sale of the company to Merck KGaA, which was announced in September 2014. The European Commission conditionally approved the acquisition in June. Sigma-Aldrich and Merck agreed at the time that in order to satisfy the conditions for clearance by the EC, Sigma-Aldrich would sell parts of its solvents and inorganics chemicals business in the European Economic Area as a fully integrated, standalone business.
Sigma-Aldrich's research chemicals business, based in Seelze, Germany, manufactures high-purity research chemicals and other materials that are used in drug discovery, medical diagnostic testing, and other laboratory application. As part of the deal, Honeywell is acquiring three global brands, Fluka, which develops chemicals and reagents for biochemical research and other chemical and pharmaceutical applications; Hydranal, which develops Karl Fischer titration reagents used by laboratories to measure moisture content in liquids and solids; and Chromasolv, which develops high-purity solvents used in chromatography applications.
Merck will now submit the Honeywell agreement to the EC for its potential approval, which is required for its purchase of Sigma-Aldrich to be completed.