R-POULENC/MERIEUX MERGER IS ON

French chemical and pharmaceutical company Rhone-Poulenc has said that following a meeting with Institut Merieux on March 8, the two companies have decided to reconfirm their plans to merge. The deal has been on hold as a result of the decision last year to stop Merieux's production of placental albumin. R-P's president Igor Landau indicated recently to journalists in the UK (Marketletter February 28) that it was still interested in acquiring the minority stake in Merieux that it does not already hold.

Extraordinary general meetings will be held at which it will be proposed to shareholders that a merger exchange ratio of 15 Rhone-Poulenc S A shares for one Institut Merieux share be accepted. It was also decided that a proposal be made to the 2% of minority shareholders of Pasteur Merieux Serums et Vaccins of an exchange of their shares for Rhone-Poulenc shares, again on a ratio of 15 Rhone-Poulenc shares for one Pasteur Merieux Serums et Vaccins share.