Merck & Company
ORG
Merck Merck & Company
Bayer, the drug and chemical giant, said it would pay nearly $20 billion in cash for a smaller rival, Schering, topping a $17.9 billion offer by Merck of Germany. The offer, which Schering said it would recommend to its shareholders, could help rebuild some of Germany's historic prominence in the pharmaceutical industry. Merck withdrew, leaving Bayer to complete the takeover unless another suitor enters the fray.