www.fdanews.com/articles/85708-schering-ag-supports-bayer-offer
SCHERING AG SUPPORTS BAYER OFFER
March 31, 2006
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.