German-based Bayer is open to a “merger of equals” that would enhance its health-care unit without paying a premium for an acquisition, says Bayer’s chief executive officer Marijn Dekkers, according to a Bloomberg report.

In an interview with Bloomberg, Dekkers said three or four companies may be considered Bayer’s equals in a merger of drug units; however, he would not elaborate on the topic.

If Bayer’s health unit was doubled, it would create a drugmaker equivalent to Sanofi-Aventis, GlaxoSmithKline, and AstraZeneca, reports Bloomberg.  With its $25.1 billion in sales last year, Bayer is relying on its two chemical units to drive growth this year. 

Bayer would consider a merger “if the stars were to be aligned,” Dekkers said. “I would be open to making the company stronger if the right opportunity were to come.”