Schering AG supervisory board member steps down

Schering AG announced Tuesday that Hermann-Josef Lamberti resigned from the company's supervisory board, in an effort to avoid a potential conflict of interest. The news comes after Merck KGaA recently made an offer to acquire Schering for 14.6 billion euros ($17.7 billion).

Lamberti also holds the position of chief operating officer at Deutsche Bank, the investment firm that is advising Merck on its bid to buy Schering. Lamberti's decision, which is effective immediately, was made by "mutual agreement" with Schering's supervisory board chairman, news sources report.

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