Summary
Merck & Co., Inc. announced the completion of the sale of its Merck Consumer Care (MCC) business to Bayer AG on October 1, 2014. This strategic divestiture, for which a Stock and Asset Purchase Agreement was signed on May 5, 2014, includes the global trademark and prescription rights for well-known brands like Claritin and Afrin. The transaction generated $14.2 billion in gross proceeds, resulting in approximately $9 billion in after-tax proceeds, subject to customary closing adjustments and potential contingent amounts related to the transfer of manufacturing sites and regulatory approvals in specific regions.
Key Highlights
- 1Merck completed the sale of its Consumer Care business to Bayer AG on October 1, 2014.
- 2The sale includes global trademark and prescription rights for brands such as Claritin and Afrin.
- 3The transaction's gross value was $14.2 billion.
- 4Merck expects to receive approximately $9 billion in after-tax proceeds.
- 5Proceeds are subject to customary closing adjustments and potential contingent payments.
- 6The company has filed a press release (Exhibit 99.1) detailing the disposition.
- 7Unaudited Pro Forma Financial Information related to this transaction is also available as Exhibit 99.2.