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There's money around for the big deals
Whilst governments agonise over spending a thousand million dollars here or there, big takeover deals can still attract funding, as an announcement from Merck and Schering-Plough makes clear.
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The deal, announced today, will see Schering-Plough sold for around USD41,000 million dollars.
Of that, 9,800 million will come from Merck's cash pile. But USD8,500 million will come in the form of a loan arranged by JP Morgan. The balance of the purchase price will be paid in shares.
The deal has been approved by the boards of both companies but has yet to be put to shareholders.
The plan is to make annual savings of USD3,500 million - which inevitably translates to job losses. It is also expected to provide growth in markets outside the USA.
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