NEW YORK — Bayer is negotiating for Merck's consumer health business in a deal worth $14 billion, according to a Bloomberg report published Friday, citing people with knowledge of the matter.
According to the report, an announcement is likely to come in the next few days. "While the two sides have agreed to a deal in principle, they are still working out details and haven’t formally reached an agreement," Bloomberg reported. "The terms would include cash and an exchange of pharmaceutical assets, possibly structured as a joint venture."
Other suitors for the Merck consumer care business include Reckitt Benckiser, Procter & Gamble and Sanofi, though Reckitt has withdrawn from the bidding because Merck's consumer business had become too expensive, Bloomberg reported.