Merck merges with Schering-Plough in yet another Big Pharma mega-deal

Melly Alazraki

Merck (MRK) said on Monday that it would acquire Schering-Plough (SGP) for $41.1 billion. Schering-Plough shareholders will receive $23.61 (0.5767 shares of Merck at Friday's price and $10.50 in cash) a share, representing a premium of about 34 percent over Schering's Friday's close.

This would join the two cholesterol drug makers of Zetia and Vytorin after they both recently announced job cuts and a combined 26 percent slump in sales in the fourth quarter. Merck CEO Richard Clark will lead the combined company.