Pharmaceutical giants Merck, Schering-Plough announce merger

US pharmaceutical giants Merck and Schering-Plough announced their merger early on Monday in a stock-and-cash transaction valued 41.1 billion dollars.

By Agencies | Mar 09, 2009, 04.21 PM IST

WASHINGTON: US pharmaceutical giants Merck and Schering-Plough announced their merger early on Monday in a stock-and-cash transaction valued 41.1 billion dollars.

The combined company will bear the name Merck after the trasaction is completed.

The transaction was unanimously approved by the boards of directors of both conglomerates, a joint statement said.

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