announced its game-changing plan to acquire
for $41.1 billion in cash and stock, regulatory issues on the path to closing were bound to raise an eyebrow.
No doubt, since the two companies will combine to make the world's second largest drugmaker.
Thus, it's no surprise to us that the two said they received requests from the Federal Trade Commission for additional information about their proposed merger based on antitrust law. And it was apparentely no surprise to them: The two drug manufacturers said in a release on Monday that they expected the request and plan to cooperate fully with it.
The drug companies, both based in New Jersey, continue to expect the deal to close during the fourth quarter of 2009.
Since about 70% of Schering-Plough's revenues are created outside of the U.S, the deal, wen completed, will expand Merck's international and emerging markets presence. The two are particularly known for making the cholesterol drugs Vytorin and Zetia.
Shareholders for both companies must still approve the deal as well.
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