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.
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