Organon takeover too costly and complicated, says Merck

US pharmaceuticals giant Merck turned down an offer for its Organon unit in Oss because it would cost the company $700m more than closing it down, the company told a court hearing on Friday.

That and the complexity of the transaction were reasons enough to reject the offer, Merck said.
The works council and supervisory board at the Organon plant went to court in an effort to have takeover talks reopened.
Merck is planning to close the research and development department and one production line with the loss of over 2,000 jobs.
The court will announce its decision on March 11.

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