Home » SCHERING AG SUPPORTS BAYER OFFER
SCHERING AG SUPPORTS BAYER OFFER
The Executive Board of Schering AG, Germany (FSE: SCH, NYSE: SHR) today announced that it will support a voluntary public offer by Bayer AG to acquire all of the outstanding shares of Schering AG for a price of EUR 86 in cash which it will recommend to its shareholders after having assessed the offer documents. Bayer's offer represents a premium of 29% percent over the XETRA closing price of March 10, 2006. At the offer price, Schering's equity is valued at EUR 16.3 billion, based on 190 million shares outstanding.
KEYWORDS Daily International Pharma Alert
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