Reckitt Benckiser Group said on Wednesday it was no longer in active talks with Merck & Co about buying its consumer health business, leaving Germany's Bayer as the leading contender for the $14 billion business.Bayer had offered to swap its animal health assets for Merck's consumer business and pay the remainder of the price in cash, Reuters reported on Tuesday, citing people familiar with the matter. That may have given Bayer a leg up, since Reckitt, known for paying high multiples, backed down."We are a highly disciplined acquirer with strict return metrics, which we will not break," said Reckitt Benckiser Chief Executive Rakesh Kapoor in an emailed statement."The consumer health market remains highly fragmented and we will continue to evaluate opportunities that fit both our strategic and financial criteria."
Merck & Co., Inc. (Merck) is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. Shares of MRK fell by 1.02% or $-0.6/share to $58.12. In the past year, the shares have traded as low as $44.60 and as high as $58.86. On average, 11699900 shares of MRK exchange hands on a given day and today's volume is recorded at 6470024.
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