Merck Sells Merial Stake For $4B To Expedite Merger

Law360, New York (July 30, 2009, 12:47 PM EDT) -- Merck & Co. Inc. has reached a $4 billion cash deal to sell its stake in an animal-health joint venture to Sanofi-Aventis, an agreement aimed at smoothing the path for Merck's planned merger with Schering-Plough Corp.

The animal health company, Merial Ltd., is a 50-50 joint venture between Merck and Sanofi-Aventis. Following the completion of the sale, Sanofi-Aventis will own 100 percent of Merial. Merck's animal health business has been discussed as a possible hurdle to U.S. antitrust regulatory approval of the merger, since Schering also...
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