Law360, New York (March 9, 2010, 5:10 PM EST) -- Sanofi-Aventis SA and Merck & Co. Inc. have announced that they will combine their animal health businesses, each valued at around $8 billion, with Sanofi-Aventis exercising a call-option agreement the companies signed when Merck shed its stake in a subsidiary to allay antitrust concerns over its merger with Schering-Plough Corp.
The deal, announced on Monday, combines Sanofi-Aventis' Merial with Intervet/Schering-Plough, Merck’s animal health business, to create a new joint venture equally owned by the two companies.
The enterprise value of Merial has been fixed at $8...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.