Health Care & Pharma

Bayer gets $14.2B loan to purchase Merck business unit

By Eric Strauss, June 18, 2014 at 1:27 PM

Signage at Merck's Whitehouse Station headquarters. - (NJBIZ file)

Bayer has loans in place for its proposed purchase of Merck & Co.’s consumer care business, according to Bloomberg News.

The $14.2 billion loan package includes a $12.2 billion bridge facility and $2 billion term loan, and involves commitments from 23 banks, Bloomberg reported, citing a statement from BNP Paribas. The French bank coordinated the deal with Bank of America and Mizuho Financial Group.

The German company is buying the Whitehouse Station-based company’s consumer care unit as part of a refocus on brand-name treatments that can be sold directly to consumers, Bloomberg said.

ALSO ON NJBIZ:

Be careful: For legal reasons, ACA-prompted wellness programs must be structured carefully

Top 10 rankings of New Jersey's best places for homeownership

Jersey Shore real estate agencies merge

More From This Industry

• BioReference Labs names new EVP of sales • Hackensack Meridian, NJII cut ribbon for first health care incubator in New Jersey • BAYADA Home Health Care names CEO • Roka Bioscience to sell assets to IEH for $17.5M

Eric Strauss

Follow @acerimrat
Eric Strauss is the Managing Editor of NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com.