Following Germany pharmaceutical firm Bayer’s acquisition of major Merck assets, reports say Bayer will keep several popular brands to the disappointment of several suitors that were looking to snatch up the businesses.
Reports say Bayer will maintain the Dr. Scholl’s and Coppertone brands following the $14 billion buyout of US-based Merck assets. Unnamed sources told reporters that several rivals had looked to acquire the brands, which did not seem to fit in with Bayer’s strictly pharmaceutical portfolio.
But Bayer plans to keep the companies, leading the company to broaden its healthcare businesses into consumer goods.
According to reports, Dr. School’s and Coppertone are each worth about $1 billion. They were part of the acquisition finalized last May following a bidding war with Reckitt Benckiser, Procter & Gamble and Novartis, according to reports.
Full content: Reuters
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