Dupont Agrees To Buy Merck Stake

DuPont Co said Tuesday it had agreed to acquire Merck & Co.'s interest in their pharmaceutical joint venture for $2.6 billion as part of its strategy to make life sciences central to its growth. Merck said it was exercising its option to sell its 50 per cent stake in DuPont Merck Pharm-aceutical Co to DuPont at fair market value because it did not see the venture contributing significantly to Merck's overall growth.