BAYER ACQUIRES SCHERING AG

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Bayer has announced that its acquisition of German drugmaker Schering AG has been completed, with it now holding 92.4 percent of the company's 191 million shares.

Bayer paid nearly $21.5 billion for Schering after it staved off a rival offer from Merck KGaA. Merck then snapped up more than 20 percent of Schering's shares before agreeing to sell them to Bayer at $113.35 per share.

"We're still aiming to acquire the entire stock of Schering," Bayer Chief Executive Werner Wenning said. "But we're not in a hurry."