The time frame for the $6.4 billion sale of VWR, a Radnor-based laboratory products supplier, to Avantor, a product manufacturer in the Lehigh Valley, has been extended to the fourth quarter of this year, writes John George for the Philadelphia Business Journal.
The deal was originally expected to finalize in the third quarter, but new documents filed with the Securities and Exchange Commission indicate that VWR now expects to close the transaction in the mid-to-late fourth quarter. VWR said the delay was to give enough time for the European Commission to complete its review of the merger.
VWR distributes close to 1.2 million products to more than 250,000 pharmaceutical, biotech, and other companies along with educational and research institutions across North America and Europe. It employs 10,000 people worldwide and generated sales of $4.5 billion last year.
“We believe that combining Avantor’s advanced materials and solutions with VWR’s unparalleled distribution capabilities and breadth of offerings represents a compelling value proposition,” said Manuel Brocke-Benz, president and CEO of VWR.
He believes the acquisition will create an organization uniquely positioned “to serve the growing needs of laboratory and production customers around the world.”
Read more about VWR’s upcoming sale to Avantor in the Philadelphia Business Journal by clicking here.