US authorities investigating Merck & Co/Schering-Plough merger
US authorities are investigating allegations of insider trading related to the planned merger of Merck & Co and Schering-Plough (Marketletters passim), says the Wall Street Journal. According to reports, S-P's stock price increased by 8% on Friday, March 6, then by 34% on that closing price by the announcement of the deal of March 9. The number of shares traded on March 6 exceeded the amount on any one day in the previous 10 months.
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