However, this certainly means Mr. Frazier -- after the NYSE close, tonight, in San Francisco -- will likely (only?) repeat these same phrases, below, over and over, in response to what is now certain to be VERY ardent questioning. Notice that no proposed, or actual counter party -- or parties -- are named, nor deal structures (of any sort), are outlined, in the below.
Here is the Merck statement, in full, and a condensed MSM version, here:
. . . .Merck & Co said on Monday it is pursuing strategic options for its animal health and consumer businesses and expects to complete any action it takes this year.
The company could "determine the most value-creating option for each and could reach different decisions about the two businesses," Merck said in a statement ahead of a presentation at an investor conference later in the day.
In November, Merck said it was looking at options for separating these businesses. Last week, Reuters and other outlets reported that bankers said Novartis AG was discussing swapping its animal health and human vaccines businesses for Merck's over-the-counter products unit. . . .
So -- by all means -- do stop back tonight. We will update this -- but as no less an authority than Chief Justice William Howard Taft intoned (by inference), now over 110 years ago -- the Sherman Act, at §1, and the Clayton Act, at §7, present significant obstacles to the likely Goldman Sachs sourced rumor of a $5 billion straight up swap deal.
3 comments:
Condor, please don't forget that you are following the same legal eagles that brought on a 'reverse merger' designed to shut out J&J's revenue sharing agreement with Schering set to self destruct in a change in control situation. These Merck guys can do ANYTHING!
Oh, yeah, there was that bit at the end of the 'reverse merger' where Merck had to buy the revenue back from J&J. So much for that reverse thing - but they still got the revenue - okay after paying a premium on the Schearing deal and then again to J&J. But seriously, this swap WILL work.
/sarcasm
And I hear that Bridget Kelly is going to work the negotiation table!
Hilarious!
And dead bang perfect anon!
Namaste
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