FDAnews Drug Daily Bulletin

SCHERING WORKERS WORRIED HIGHER PRICE PAID BY BAYER WILL LEAD TO JOB CUTS

June 19, 2006
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Schering AG workers are worried that the higher price paid by Bayer AG for the company will result in job cuts, head of the works council Norbert Deutschmann told Die Welt. Bayer had initially bid 86 eur per share or 16.5 bln eur, but will now, after it acquired Merck KGaA''s 21.8 pct stake for 89 eur, have to fork out around 16.94 bln eur for the Berlin-based pharmaceutical company. Euro2Day (http://www.euro2day.gr/articlesfna/16129258/)