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Bayer, Aventis to Merge

Wire and Staff Report
Saturday February 23, 2002
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Berkeley-based Bayer has announced plans to merge its unit that makes blood-plasma products with a rival owned by Aventis of France. 

Bayer said it had signed a letter of intent to take a “substantial majority interest” and management control of the venture, which will have annual sales of more than $2 billion. Bayer also would have an option to buy the stake held by Aventis at a later date.