'White knight' Bayer rides to Schering's rescue ousting Merck

摘要

BAYER has emerged as a "white knight" for the German Pharmaceuticals firm Schering,trumping a hostile takeover bid from rivals Merck KGaA with a euro 16.3b (19.5b) bid.Schering's executive board accepted the offer,after it was further increased to euro 16.5b.The board had earlier rejected a euro 14.6b offer from Merck as "too low".