In 2006, Bayer acquired the German pharmaceutical company Schering AG.
Schering was a Berlin-based pharmaceutical company founded in 1851 by Ernst Christian Friedrich Schering. By the early 21st century, it had become an international specialist in areas including oral contraceptives, oncology, multiple sclerosis treatments, and diagnostic contrast agents. It employed roughly 26,000 people and operated through about 140 subsidiaries.
Merck KGaA initially announced a €14.6 billion takeover bid in March 2006. Bayer then made a competing “white knight” offer, supported by Schering's management, and acquired the company in July. The transaction was completed for approximately €14.6 billion, and the businesses were combined as Bayer Schering Pharma. That name was later changed to Bayer HealthCare Pharmaceuticals in 2011.
The main potential confusion is with Schering-Plough. Although the American company had historical ties to Schering AG, it was a separate corporate story and later merged with Merck & Co. in 2009. The 2006 German acquisition was carried out by Bayer.