The wires are carrying combined Merck-Schering-Plough press releases, now, thus:
. . . .Merck & Co., Inc. and Schering-Plough Corporation today announced that they will complete their merger shortly after 4:00PM ET today. The companies will begin combined operations tomorrow, November 4, 2009. As previously announced, Schering-Plough will change its name to Merck and its common stock will trade under the ticker symbol “MRK” on the New York Stock Exchange.
Under the terms of the agreement, Schering-Plough shareholders will receive 0.5767 shares of the newly combined company and $10.50 in cash for each share of Schering-Plough. Each Merck common share will automatically become a common share of the newly combined company.
This announcement follows clearance from regulatory authorities in China and Mexico. The merger of local Merck and Schering-Plough entities may be pending in other jurisdictions [Japan] and integration is subject to completion of various local legal and regulatory obligations. . . .
Good luck all employees, at the Kenilworth Town Hall tomorrow. Do feel free to hand out my CEO compensation post, tomorrow -- it is public domain.
5 comments:
This is very sad.
Condor-
Maybe you want to announce that Merck is taking a survey on the merger and what the new company should take into consideration.
http://www.merck.com/
On the right hand site of the webpage--a little box.
You also need to own up -- you REALLY got this one wrong about the chances of closing this year.
Uh, right. This site is all about the problems of Schering-Plough.
So, if it's okay by you -- (and even if it isn't!) I'll put on the A New Merck, Reviewed website, okay?
Cool.
Namaste
Well -- I don't much care about admitting I am wrong, when I am.
So -- so enjoy yourselves.
Namaste
Post a Comment