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Bayer to pay $1.1B for California firm Conceptus

Germany drug company Bayer AG says it intends to buy California-based Conceptus to expand its birth control offerings. Bayer said Monday it would launch a pupublicblic offer to pay $31.00 per share for all the stock in Conceptus, Inc. That means Bayer would pay $1.1 billion. Conceptus makes Essure, an irreversible birth control method in which metal and polyester coils are inserted to block a woman's fallopian tubes. The procedure can be done in 10 minutes a doctor's office.

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