Rumor Mill: Schering-Plough considering BMS bid

The Star-Ledger is reporting that top officials at Schering-Plough are seriously considering making a bid to merge with the troubled Bristol-Myers Squibb. Fresh from ousting its CEO and general counsel in the wake of a fresh scandal generated by their bungled attempt at delaying a generic competitor, BMS quickly became the subject of speculation that it could become a takeover target. For Schering-Plough, a deal would give it a greatly expanded pipeline with cancer treatments and antiviral therapies for HIV/AIDS and Hepatitis C. For BMS, it would offer an opportunity to hook up with Schering-Plough CEO Fred Hassan, who enjoys a solid reputation as one of the industry's leading turnaround experts.

- read the report on the discussions from The Washington Post