Schering-Plough will acquire Intervet
American pharmaceutical company Schering-Plough will acquire Dutch
veterinary company Intervet, the companies announced last Sunday.
Combining the world's third largest veterinary company (Intervet) and the fifth
(SP), the acquisition will create the world's largest veterinary company,
according to Akzo Nobel's media officer Tim van der Zanden.
The acquisition is part
a larger deal in which Schering Plough will buy Organon BioSciences, the pharmaceutical
division of chemical company Akzo Nobel, of which Intervet is
one part. In total, SP has made an offer of about €11
The new company's animal
health headquarters will be based in Boxmeer, the Netherlands, currently the
home of Intervet.
Both companies will remain functioning under their
own names - brands will not disappear for now.
Van der Zanden
said negative consequences were hardly present. "We are not talking about a
slicing and cutting deal. What we are looking for is growth. This way, Schering-Plough
can become bigger in Europe and Intervet can grow further in the
As the deal was made rather quickly
and unexpectedly over the weekend, further details yet have to be
Parties expect that the transaction could be completed in
the second half of the year, after consultation with social partners, and
clearance from regulatory bodies.
Last year, Akzo Nobel already
announced it envisaged a separation of Akzo Nobel and
â€¢ Akzo Nobel
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