VWR Scientific To Merge With Subsidiary Of Merck KGaA

VWR Scientific Products Corp. (West Chester, PA) has entered into an agreement to merge with a subsidiary of Merck KgaA (Darmstadt, Germany). The companies expect the transaction to be finished by the third quarter of 1999.

VWR board members have unanimously endorsed the offer and have advised VWR that they will tender their shares to Merck. Approximately 49.9% of VWR's common shares are currently owned by Merck KGaA and its affiliates. Merck intends to purchase each of the remaining shares for $37.00 in cash. The terms and conditions of the offer will be filed with the Securities and Exchange Commission by June 15, 1999. The merger will be subject to antitrust and regulatory approvals.

With sales in excess of US $1.3 billion, VWR is one of the leading suppliers of laboratory equipment, chemicals, production supplies, and science education materials to the scientific market place. VWR operates an extensive distribution network consisting of five highly automated regional distribution centers and over 50 service centers and just-in-time facilities. VWR currently offers more than 350,000 products from more than 1,800 vendors.

The acquisition of VWR, together with the recently established Merck Eurolab N.V., will enable Merck KGaA to enhance its laboratory supply business. Merck Eurolab N.V. is the holding and management company for the European laboratory distribution activities of Merck KGaA.

Merck KGaA is a worldwide operating group of companies with activities in pharmaceuticals, specialty chemicals, and laboratory products. In 1998, Merck's revenues exceeded DM 8 billion.

For more information, call 610-431-1700.