US-based Merck has signed an agreement to acquire Sigma-Aldrich for $17bn (€13.1bn), which will boost the company's position in the life science industry. 

Under the deal, Merck will acquire all outstanding shares of Sigma-Aldrich for $140 per share in cash.

Merck executive board chairman Karl-Ludwig Kley said: "This transaction marks a milestone on our transformation journey aimed at turning our three businesses into sustainable growth platforms.

"For our life science business it's even more than that: it's a quantum leap. In one of the world's key industries two companies that fit perfectly together have found each other to present a much broader product offering to our global customers in research, pharma and biopharma manufacturing and diagnostic and testing labs."

The integrated entity will benefit from an efficient supply chain that can support the delivery of more than 300,000 products, while offering a set of established brands to life science customers worldwide.

US-based Merck has signed an agreement to acquire Sigma-Aldrich for $17bn (€13.1bn), which will boost the company's position in the life science industry. 

Under the deal, Merck will acquire all outstanding shares of Sigma-Aldrich for $140 per share in cash.

Merck executive board chairman Karl-Ludwig Kley said: "This transaction marks a milestone on our transformation journey aimed at turning our three businesses into sustainable growth platforms.

"For our life science business it's even more than that: it's a quantum leap. In one of the world's key industries two companies that fit perfectly together have found each other to present a much broader product offering to our global customers in research, pharma and biopharma manufacturing and diagnostic and testing labs."

The integrated entity will benefit from an efficient supply chain that can support the delivery of more than 300,000 products, while offering a set of established brands to life science customers worldwide.