Bayer-Schering Pharmaceuticals: A $20B Merger?

Filed in archive Corporate and Industrial News by ruth on April 13, 2006

Yes, that's right. If Schering accepts the bid, two of Germany's biggest pharmaceutical companies would merge and operate under one name. Bayer AG offered $20.01 billion, equivalent to $104.28 per share, making the other contender, Merck KGaA, abandon the takeover bidding. The impacts of this potential merger?

The planned merger of Schering AG and the Bayer pharmaceuticals division will create a new heavyweight of international standing in pharmaceutical specialty products.

It is also expected to result in the loss of some 6,000 jobs from the combined work force of about 60,000.

The combined company is to be named Bayer-Schering Pharmaceuticals and have its headquarters in Berlin.

Related Entries:

Big Pharmaceuticals Expected to Repatriate $100B - 21 February 2006
Serono Seeks Acquisitions Or Merger Instead of Take-Over - 11 April 2006
Bayer Takes Over Schering - 16 June 2006
Stiefel Laboratories Buys Out Connetics for $640 Million - 24 October 2006

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