Merck Finds No Buyer for Dutch Organon Unit
From M&A Navigator (February 16, 2011)
US drug maker Merck (NYSE:MRK) said today it did not manage to find a buyer for its Dutch research and development (R&D) unit MSD Organon, which is threatened with closure.
In September last year, Merck said it would delay the planned closure of Organon’s Dutch R&D operations as it was considering various alternatives, including a divestment.
According to the US company, there were intensive talks with various interested parties, yet, they did not lead to a deal that would be in the best interest of all shareholders.
Reportedly, South African Aspen Pharmacare (JNB:APN), Japan’s Takeda (TYO:4502) and Dutch bioscience firm Pantarhei had submitted bids for parts of the unit.
Merck said Organon’s drugs and biologics business would remain a core part of the group.
Country: , Netherlands
Target: MSD Organon
Vendor: Merck & Co Inc
((Comments on this story may be sent to firstname.lastname@example.org))
Posted: February 2011