UBS was this week named as an adviser to AZ Electronics on its £1.5 billion sale to Merck, the fifth deal across equity capital markets and mergers and acquisitions the Swiss bank has worked on involving the electronic materials company since 2007.

German pharmaceuticals and specialty chemicals company Merck announced yesterday that it had agreed a deal to acquire electronic materials supplier AZ for £4.035 per share, or £1.5 billion.