Merck KGaA to refrain from big deals for now: executive

FRANKFURT (BestGrowthStock) – German drugmaker Merck KGaA (MRCG.DE: ) will take a breather from pursuing larger takeover deals as it integrates its latest acquisition Millipore, a company executive said on Tuesday.

“You will not see us involved in transactions of (Millipore’s) size in the short term,” the company’s head of corporate finance, Uta Kemmerich-Keil, said at an event, adding that management’s focus was on integrating the laboratory equipment supplier.

Merck agreed to buy U.S. biotech tool maker Millipore for $6 billion in cash in February to diversify away from its pharmaceuticals business.

(Reporting by Frank Siebelt, writing by Ludwig Burger; Editing by Will Waterman)

Merck KGaA to refrain from big deals for now: executive