Puzzling Merck and Millipore Deal

Over the weekend, Merck KGaA of Germany (not to be confused with the bigger Merck Inc.) put in a $7.2 billion bid for Millipore, a maker of life sciences research products, beating out an earlier offer of $6 billion by Thermo Fisher Scientific.  I’ve done some consulting work in the life sciences sector, but I don’t follow it closely.  Even so, this transaction puzzles me, so I decided to spend some time thinking about it further. Continue reading Puzzling Merck and Millipore Deal