Sigma-Aldrich shareholders approve company's sale
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- Jacob Kirn
- Digital Producer- St. Louis Business Journal
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Sigma-Aldrich Corp. shareholders have approved the sale of the St. Louis-based company to German pharmaceutical giant Merck KGaA for $17 billion in cash.
A vote by Merck shareholders isn't required, officials said previously.
Sigma shareholders also approved "golden parachute" compensation for some of the company's executives.
If the deal goes through and current Sigma-Aldrich executives are laid off, they would receive the following compensation, according to a regulatory filing:
- President and CEO Rakesh Sachdev: $33.8 million
- Executive Vice President and CFO Jan Bertsch: $10.5 million
- Executive Vice President and President of SAFC Commercial Gilles Cottier: $6.8 million
- Executive Vice President and President of Research Eric Green: $5.1 million
- Executive Vice President and President of Applied Franklin Wicks: $7 million
Merck said previously it plans to maintain a "significant presence" in St. Louis and in Billerica, Massachusetts, following completion of the transaction.
Life science and technology company Sigma-Aldrich operates in 37 countries and has about 9,000 total employees.
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