Tuesday, March 10, 2009

Mergers: Pharmaceutical giant Merck to acquire rival company Schering-Plough

U.S. pharmaceutical giant Merck announced on Monday that it plans to acquire rival company Schering-Plough in a deal worth $41.1 billion. This could help Merck expand its market overseas at a critical time for mega pharmaceutical companies.

The New Jersey-based drug companies announced they will combine under Merck's name in a deal financed through cash and stock. Under the agreement, Schering-Plough shareholders will receive $10.50 in cash and a little more than half a Merck share for each of their existing shares.
Published by Mike Hitchen, Mike Hitchen Consulting
Putting principles before profits