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This article was published on Dealreporter at 7:53AM ET. One hour after publication, Atotech and MKS Instruments announced they had secured antitrust clearance from China for their pending transaction. Read the release here.
China’s State Administration for Market Regulation (SAMR) has unconditionally cleared US-based MKS Instruments’ [NASDAQ: MKSI] proposed acquisition of Germany-based specialty chemicals technology company Atotech [NYSE:ATC], a source familiar with the situation said.
The approval of the USD 6.5bn cash and share acquisition may be disclosed very soon, the source said. As reported, the proposed tie-up encountered third party complaints and the deal's long stop date was extended in April to give SAMR sufficient time for review, following a refile around late March.
In the past couple of months, the parties have made efforts to improve the communication with third parties, including retaining a PR firm, according to the same source.
Side deals may have been reached, which has cleared the obstacles for the deal to get unconditional approval, an independent competition lawyer said.
SAMR does not comment on ongoing cases. The deal parties did not comment at the time of publication.
