MERGERS & ACQUISITIONS
* France’s Rhone-Poulenc and Germany’s Hoechst are expected to announce a merger of their drug and agricultural-chemical businesses as early as Monday, sources told Reuters. The merger would create the world’s largest “life sciences” group, with a combined stock market value of about $46.78 billion. American depositary receipts of Hoechst rose 25 cents to close at $44.63 and Rhone-Poulenc’s rose $1.06 to close at $51.19 on the NYSE.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.