Merck KGaA (FRA:MRK) of Darmstadt, Germany announced on 21st September that it has entered into an agreement with the Bertarelli Family (owner of the majority stake of Serono SA) to purchase their Serono (NYSE:SRA) shares to create a strategically compelling combination with the size to compete in the global pharmaceutical market.
Still subject to antitrust review and closing of the purchase, terms are as follows:
Merck's Pharma Ethicals division will be combined with Serono creating "Merck-Serono Biopharmaceuticals, which will headquartered in Geneva, Switzerland with U.S. counterpart in Boston, MA.
Find more details from the full press release.
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