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Merck KGAA puts up offer to acquire Schering AG; withdrawn
06 Apr 2006
Merck KGAA has announced its intention to acquire Schering AG by way of an unsolicited €14.6bn ($17.4bn) bid. Schering initially rejected the €77-per-share offer, stating that it significantly undervalued the company (shares of Schering rose to over €84 apiece following the announcement), but Merck is standing strong, confident that another bidder will not top its asking price.
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