It seems that after a minor hiccup, Bayer does take over Schering after reaching a settlement with Merck.

Bayer AG is to acquire the entire 21,8% stake in Schering shares held by Merck. The purchase price is EUR 89 per share.

Conceding to Bayer, Merck says it is now keen to cooperate with Bayer, particularly in in the fields of oncology, Cardiology or diabetes. The cost of the deal, which reached almost $22 billion, is however speculated to lead to cost pressures and potential job cuts at Schering. Click the image or here see a video report from Reuters.