P&G to acquire Merck’s consumer health business for $4.21 billion

Procter & Gamble Co said on Thursday it has signed an agreement to acquire the consumer health business of German pharmaceuticals company Merck KGaA for about 3.4 billion euros ($4.21 billion).

The acquisition enables P&G to add to its portfolio of existing consumer healthcare capabilities and brands such as Vicks, Metamucil, Pepto-Bismol, Crest and Oral-B.