Schering Plough will acquire Intervet

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 of 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
billion.

Headquarters
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 US.”

Details
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 it envisaged a separation of Akzo Nobel and
Organon.

Related websites:
• Schering Plough
•
Akzo Nobel
• Organon
• Intervet

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