Over Prior Two Years, Vanguard Has Upped Its Merck Position Rather Appreciably... At 6.7%, Now.

As the largest holders report their year end positions, we note that the well-respected Vanguard Group of affiliated funds has steadily increased its Merck bet, over the last few years -- from 5.4 per cent (at the end of 2014) of all Merck's outstandings, to 6.0 per cent, at 2015 year-end -- and now, up to 6.7 per cent, at year end 2016:

. . . .AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

184,729,642 Shares (6.70%). . . .

[And, confidential to 45 -- your lawyers are citing a 1951 statute, that has been amended in 1965, without taking into account the 1965 amendment. . . that is why you are losing, and will continue to lose -- even at the Supremes (not because the Ninth Circuit, or any other federal court -- is "political"). Silly Cheeto-monster -- to parse the law, one needs to be. . . at least minimally sentient.] Onward, to a rather somber family weekend.

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