Merial to combine with Intervet/Schering Plough
Sanofi-aventis and Merck & Co., Inc. announced today that Sanofi-aventis has exercised its option to combine Merial with Intervet/Schering-Plough, Merck's Animal Health business. The new joint venture will be equally-owned by Merck and Sanofi-aventis. The formation of this new joint venture is subject to execution of final agreements, antitrust review in the United States, Europe and other countries, and other customary closing conditions. The completion of the transaction is expected to occur in approximately the next 12 months. Richard T. Clark, Merck Chairman, President and Chief Executive...