Merck & Co. to Acquire Schering-Plough for $41 Billion

Merck & Co (Whitehouse Station, NJ) and Schering-Plough (Kenilworth, NJ) say their board of directors have approved a definitive merger agreement under which Merck will acquire Schering-Plough in a stock and cash transaction, for a total of about $41.1 billion. The companies expect to complete the transaction in the fourth quarter of 2009. According to the agreement, Schering-Plough shareholders will receive 0.5767 shares and $10.50 in cash for each share of Schering-Plough and each Merck share will automatically become a share of the combined company. The...

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