An anonymous commenter has helpfully reminded us that -- at least for the moment -- Merck's Dutch reorganization has foundered on, of all matters, a failure to secure internal corporate approvals.
The Works Council process in the Netherlands has not yet begun -- but it may turn out that the internal Organon BioSciences supervisory board approvals will be more difficult to secure, than the third party Works Council ones:
. . . .The whole situation is due to the fact that Merck overlooked(?) the jurisdiction of the supervisory board for the legal entity 'Organon'.
The Works Council has not even come into the picture as of yet, as the supervisory board would first have to okay any changes to 'Organon" before the Works Council is asked to give advice (the Works Council cannot effectively withhold Merck from making drastic changes, the supervisory board can).
September 4, 2010 4:25 PM, . . .
You'll recall that intact sales talks, to sell all of the legacy Organon BioSciences operations in the Netherlands (now owned by Merck, by dint of the Schering-Plough bust-up transaction of Novemeber 2009) are -- among other optioons -- now underway.
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