Life sciences company Millipore Corp. said Wednesday it will impose a blackout on trading by its directors and executives in connection with its sale to German drugmaker Merck KGaA.
Millipore said its directors won't be able to buy, sell or transfer any Millipore shares or derivative securities between May 27 and the week of June 27.
The company said it is imposing the blackout because participants in an employee savings plan temporarily won't be able to diversify the parts of their accounts that are invested in the Millipore stock fund.
The company said there are limited exceptions to the restrictions.
Millipore accepted a $6 billion offer from Merck KGaA in February.