Merck, Schering Settle Investor Action Over Merger

Law360, New York (July 24, 2009, 6:39 PM EDT) -- Pharmaceutical giants Merck & Co. Inc. and Schering-Plough Co. have reached a settlement with shareholders to end a consolidated class action over their planned $46.3 billion merger, the companies announced Friday.

Merck and Schering will not pay any damages in connection with the case and admit no wrongdoing, though the U.S. District Court for the District of New Jersey must still approve the settlement, according to the companies.

The agreement would resolve claims that could be brought by any shareholder of the two companies challenging the...
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