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."