unflappable-isomorphic-deez
Welcome, Guest. Please login or register.

Author Topic: Merck to Buy Schering-Plough for $41 Billion  (Read 628 times)

0 Members and 1 Guest are viewing this topic.

godoftrading

  • Full Member
  • ***
  • Posts: 119
  • Karma: 4
    • View Profile
Merck to Buy Schering-Plough for $41 Billion
« on: March 09, 2009, 12:17:48 PM »
March 9 (Bloomberg) -- Merck & Co. agreed to buy rival U.S. drugmaker Schering-Plough Corp. for $41.1 billion in cash and stock to get a larger experimental pipeline and products unhindered by imminent patent losses.

Schering-Plough holders will get $23.61 a share, a 34 percent premium to the closing stock price last week, the companies said in a Business Wire statement. Shares of Kenilworth, New Jersey-based Schering-Plough rose the most in a month in New York trading on March 6 on speculation of a bid from Merck or Johnson & Johnson.

�€œIt clearly is a year of mergers for pharmaceutical companies,�€� said Philippe Lanone, an analyst at Natixis Securities in Paris, in a telephone interview. �€œThey don�€™t have much of a choice if they are to guarantee EPS growth in the years to come.�€�

Schering-Plough has medicines in late-stage testing that may generate more than $6 billion in annual sales, the company said at a November analyst meeting. Last month, Schering-Plough�€™s earnings beat analyst estimates after the drugmaker added sales from its acquisition of Organon BioSciences and reduced costs.

Under the terms of the deal, Schering-Plough shareholders will receive 0.5767 shares and $10.50 in cash for each share of Schering-Plough. The cash portion will be financed with a combination of $9.8 billion from existing cash balances and $8.5 billion from committed financing to be provided by JPMorgan Chase & Co.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aJXSizhf4SXU&refer=home

Merger Monday :)
_________________
http://zantrio.com
http://millennium-traders.com
http://swing-trading.com

Deez

  • Administrator
  • Hero Member
  • *****
  • Posts: 10689
  • Karma: 1871
    • View Profile
    • Qwoter
  • Favorite Stocks: GOOG
Qwoter Stock College" style="border:0

Tags:
 

Related Topics

  Subject / Started by Replies Last post
0 Replies
1497 Views
Last post July 28, 2007, 02:01:06 AM
by The Web Team
0 Replies
1220 Views
Last post December 03, 2007, 01:00:48 AM
by The Web Team
0 Replies
1732 Views
Last post March 20, 2008, 12:00:34 AM
by The Web Team
0 Replies
710 Views
Last post April 03, 2008, 09:00:43 AM
by The Web Team
0 Replies
748 Views
Last post November 10, 2008, 04:48:23 PM
by MTnews
0 Replies
829 Views
Last post February 19, 2009, 11:01:03 AM
by The Web Team
0 Replies
452 Views
Last post March 09, 2009, 04:26:23 PM
by MTnews
0 Replies
608 Views
Last post March 31, 2009, 11:09:03 AM
by godoftrading
0 Replies
634 Views
Last post June 24, 2009, 10:34:49 AM
by godoftrading
0 Replies
637 Views
Last post October 05, 2009, 08:59:34 AM
by godoftrading