India Business
About 3,300 Merck employees could move to P&G upon completion of the transaction, which is expected by the fourth quarter.
As part of the deal, P&G will buy a majority stake in the German company’s Indian consumer health business, Merck Ltd, and subsequently make a mandatory tender offer to minority shareholders.
A final agreement with P&G on Merck’s French consumer health business has yet to be worked out with labor representatives but that will not change the overall price agreed with P&G.
JP Morgan acted as financial adviser to Merck on the transaction, and Freshfields Bruckhaus Deringer was legal adviser.
