Bayer AG Announces Intention to Buy California-Based Conceptus

Bayer will pay up to $1.1 billion dollars to control the company.

(FRANKFURT) - The Germany based drug company known as "Bayer AG" announced today their intention to buy California-based "Conceptus" so that they can "expand their ability to offer birth control" globally.

Conceptus caught Bayer's attention because the company makes a product called "Essure", which is an irreversible birth control method where metal and polyester coils are inserted to block a woman’s fallopian tubes by a physician, thereby preventing pregnancy from occurring.

Bayer is renowned for it's hand being in many health related products all over the world, most known here in the United States for their aspirin.

Though the Conceptus anti-trustee's will have "the final say," Bayer is making a public offer to pay $31.00 per share for all the stock in Conceptus, Inc. that it can, which estimates that Bayer will pay up to $1.1 billion dollars to control the company.

Conceptus is based in Mountain View, California and employs approximately 300 workers. Their CEO, Mr. D. Keith Grossman, was quoted saying that their product Essure "will benefit in new markets from Bayer’s global presence" and believes that the transition could take place as early as this summer.

Edited by Joy Graves, Salem-News.com