CPTS Conceptus, Inc. (MM)

FRANKFURT--Bayer AG (BAYN.XE) said Wednesday its takeover bid for Conceptus Inc. (CPTS) has been successful and it plans to merge the U.S. pharmaceutical company with a Bayer subsidiary.

The total value of the transaction amounts to about $1.1 billion (EUR852 million), said the German drug and pesticide maker. Slightly more than 96% of outstanding Conceptus shares were tendered and not withdrawn in the offer as of its expiration.

Write to Friedrich Geiger at friedrich.geiger@dowjones.com

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