Merck Ups Stake in Schering, Threatening Bayer's Takeover
Filed in archive Corporate and Industrial News on June 13, 2006
It seems that the $20 billion merger between German biopharmaceutical giants Bayer and Schering may not take place afterall. Read the news from Forbes, from Reuters and from AP (via Canada.com): Merck KGaA has raised its holding by acquiring Schering stocks, thus threatening Bayer's takeover, which needs 75 percent of the shares for the deal to go through.
"It is highly likely the deal now is not going to go through," said Merck Finck & Co. analyst Carsten Kunold, who has a "hold" rating on Bayer.
For an oveview, be sure to read In the Pipeline's take.
Tags: stocks acquisition biotech bayer merck bayer+takeover threatening+bayer merck+stake
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