German chemical and pharmaceutical company Bayer AG Friday bought shares of rival Schering AG on the market in response to Merck KGaA reaching a 10.1% stake in Schering. Bayer described Merck's purchases
as "incomprehensible", adding they appeared to be a blocking tactic
aimed at making Bayer's takeover of Schering more difficult.
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BAYER AND MERCK ENTER TUG-OF-WAR OVER SCHERING
June 13, 2006
