Reckitt Benckiser Group said on Wednesday it was no longer in active talks with Merck & Co about buying its consumer health business, leaving Germany’s Bayer as a leading contender for the $14 billion business. Bayer has offered to swap its animal health assets for the Merck consumer business that includes Coppertone sunscreen and pay the remainder of the price in cash, Reuters reported on Tuesday, citing people familiar with the matter. That swap may have given Bayer a leg up, since Reckitt, known for paying top dollar for attractive assets, backed down.
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