Merck KGaA is rapidly building up a 25 percent stake in Schering in order to block Bayer's €86 million takeover bid for the company, according to a report by AFX. Bayer's bid is conditional on a 75 percent acceptance rate by Wednesday. AFX reports that Merck KGaA is expected to announce it has acquired more than 25 percent of Schering's stock soon.
- read the AFX report for more