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. Last Updated: 07/27/2016

Hoechst-Rhone Pact

FRANKFURT, Germany -- The pharmaceutical and chemical concern Hoechst AG is close to finalizing an agreement to merge with the French pharmaceutical company Rhone-Poulenc SA, a spokesman said Monday.

The two companies have scheduled a news conference Tuesday in Strasbourg, France, to discuss details of the agreement, the spokesman said.

Hoechst confirmed last week that the two were in talks that would form one of the world's largest pharmaceutical firms.