Germany's Merck says semiconductor M&A deals face political hurdles
A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski/File Photo Purchase Licensing Rights
FRANKFURT, Nov 9 (Reuters) - German diversified group Merck KGaA (MRCG.DE), which last year said it was in the market for takeover deals worth as much as 20 billion euros ($21.4 billion), said on Thursday that any transaction to strengthen its semiconductor chemicals business would currently be challenging.
"The geopolitical hurdles of M&A in semiconductor are something to be mindful of," Merck's Chief Financial Officer Helene von Roeder said in a media call after the release of quarterly results.
Overall, the company was taking an opportunistic and selective approach to deals, she added.
CEO Belen Garijo said in August that any deal could take a while and that acquisitions to strengthen Merck's Life Science unit, a supplier of gear and substances for the pharmaceutical industry, were a priority. Deals in drug development or semiconductor chemicals remained on the cards, the CEO said at the time.
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Reporting by Ludwig Burger, Editing by Linda Pasquini
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