{ "market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "1259332231", "close" : "1259344831", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000"}
ap

Merck: 3 Schering-Plough directors to join board

Merck says 3 Schering-Plough directors will join combined company's board

  • On 1:08 pm EDT, Thursday September 3, 2009

WHITEHOUSE STATION, N.J. (AP) -- Merck & Co., which is buying rival Schering-Plough Corp. for $41.1 billion, said Thursday that three of Schering-Plough's directors will join the combined company's board.

C. Robert Kidder, Patricia F. Russo, and Craig B. Thompson will become a part of the board once the acquisition closes, which is targeted for the fourth quarter.

Kidder, 64, is chairman and CEO of private investment firm 3Stone Advisors LLC. Russo, 57, was CEO of Alcatel-Lucent from 2006 to 2008. Thompson, 56, has been the director of the Abramson Cancer Center since 2006.

Merck said Monday that it will restructure into five divisions after it completes the buyout of Schering-Plough.

Merck's stock shed 73 cents, or 2.4 percent, to $30.07 in afternoon trading Thursday. Shares of Schering-Plough dropped 45 cents to $26.96.

Related Headlines

Related Blog Headlines

Top Stories

Related Message Boards

Sponsored Links

Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.