Bayer, the German pharmaceutical group, has won the controversial battle for rival Schering, building an 88% stake, and is set to complete the €17bn deal within two weeks

Bayer revealed yesterday in a statement that "the way is now clear" to buy Schering after it gained control of more than the two thirds necessary to proceed with the the takeover. The remaining stockholders of Schering have until July 6 to tender their shares to Bayer.