Merck & Co., Inc. (NYSE:

) today announced that, as of the close of business on August 13, 2010, the outstanding shares of the company's 6.00% Mandatory Convertible Preferred Stock (NYSE: MRK-PB) will mandatorily convert by their terms into a right to receive cash and shares of Merck common stock. For each share of Preferred Stock, holders will receive $85.06 in cash and 4.6719 shares of Merck common stock.