Germany's Merck KGaA has received final clearance for the takeover of AZ Electronic Materials. This follows approval of the deal by China's Ministry of Commerce (MOFCOM).

Merck said the go-ahead from China means that the last antitrust hurdle has been taken. AZ shareholders now have until May 7 to tender their shares.

In December 2013, the Darmstadt-based chemicals and pharmaceuticals producer offered £1.6 billion in cash for the Luxembourg-based firm, which manufactures anti-reflective coatings used in hard disc drives, as well as specialty chemicals for the graphic arts sector and shrink coatings used in memory devices.

The offer was extended several times.