Serono has evidently decided that if no one wants to buy the Swiss drug maker at the price it set, the company will go after a merger or buyout of its own design. Serono is seeking shareholder approval for raising SFR7.3 billion to go on the acquisition trail. Serono already has about SFR2 billion in the bank. Investors didn't seem to share the company's enthusiasm for the new strategy, sending shares down about 8 percent. Some analysts cautioned that the sudden switch in strategy may be a coldly calculated effort to warm the affections of any potential suitor waiting to raise their bid.
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