End may be near for Merck, Schering-Plough merger challenge

WHITEHOUSE STATION, N.J. A challenge to Merck & Co.’s planned acquisition of Schering-Plough Corp. may be resolved, Merck said Friday.

Merck announced a proposed settlement to resolve litigation challenging the merger and seeking unspecified “other forms of relief.” Shareholders had filed a class-action lawsuit in the Chancery Division of the Superior Court of New Jersey, naming Merck & Schering-Plough as defendants.

Under the proposed settlement, which is subject to approval by the court, neither Merck nor Schering-Plough would pay damages, but they have agreed that the plaintiffs’ counsel can collect attorney fees from Merck, and the two companies would release more information about the $41.1 billion merger.