Bayer's €16.5 billion acquisition of national pharmaceuticals rival Schering hangs in the balance after Merck KGaA, doubled its stake in the target to come within reach of blocking Bayer's tender offer.
Darmstadt-based Merck announced over the weekend that it had raised its stake in Schering by nine percentage points to 18.6 per cent just as Bayer was trying to secure a three-quarter stake in the Berlin group, which is its precondition for the deal.
Source: FT
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