Bayer AG’s (BAYN) deal to purchase Merck & Co’s consumer products unit for $14.2 billion will be the second-largest acquisition in the Germany-based company’s history. And it follows the Novartis/GlaxoSmithKline whopper of a deal in Big Pharma announced just weeks ago. Even though Bayer’s paying more than 20 times earnings for Merck’s business, and many feel that’s too much, others like the deal, including Ulrich Huwald of Warburg Research: “Strategically, this is a consistent step for Bayer. The have a very strong brand, a clearly positive position in the over-the-counter business.” However, investors appear to be lining up opposite Ulrich on the deal, as BAYN shares are down since the announcement. What do you think?