Intervet to be bought by Schering Plough
American pharmaceutical company Schering Plough
acquired Dutch veterinary company Intervet last Sunday.
Combining the world's third largest veterinary company (Intervet
) and the fifth (Schering Plough
the acquisition creates the world's largest veterinary company, according to Akzo Nobel
's media officer Tim van der
The acquisition was part of a larger deal in which Schering Plough bought
, the pharmaceutical division of chemical company Akzo Nobel, of
which Intervet is one part. In total, SP pays about €11 billion. The new
company's animal health headquarters will be based in Boxmeer
Netherlands), currently the home of Intervet. Both companies will remain
functioning under their own names.
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 US." As the deal was made rather quickly and unexpectedly over
the weekend, further details yet have to be released. 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 that it envisaged a separation of
Akzo Nobel and Organon.
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