Merck KGaA (NYSE:MRK) closed its deal to acquire Millipore Corp. (NYSE:MIL) for $6 billion in cash plus about $890 million in Millipore debt.
The German pharmaceutical and chemical company agreed to pay $107 per share for Billerica, Mass.-based Millipore, which makes which produces specialty filters for water used in laboratory, drug and biotech applications, among other products.
The companies announced the deal in February, a week after word leaked that Thermo Fisher Scientific Inc. (NYSE:TMO) was preparing a bid for Millipore. That company’s shareholders approved the Merck bid in June. Merck said Bernd Reckmann will take the reins of its newly created EMD Millipore division, which will keep its headquarters in Billerica.
Former Millipore execs will also join the new division: Bioscience division president Jon DiVincenzo will lead the new bioscience business unit; Jean-Paul Mangeolle, president of Millipore’s bioprocess division, will lead the process solutions business; and global operations vice president Peter Kershaw will head operations.
Millipore CEO Martin Madaus will serve as an advisor during the integration process before heading for the exit; CFO Charles Wagner and human resources corporate vice president Bruce Bonnevier will leave the company. Millipore’s former HR VP, Toni Spinazzola, will become Head of Human Resources for EMD Millipore.