German drug and chemical maker Merck reportedly will make an $18 billion hostile bid for rival Schering create a larger German group capable of competing with global rivals, a variety of news sources reported Sunday.
Berlin-based Schering said it had been informed of a 77-euro-a-share cash offer by Merck representatives over the weekend. Schering reportedly felt, thought, that the price significantly undervalued Schering and that no negotiations were ongoing.
Merck declined to comment on the financial news.