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* Names leaders for 5 main divisions

* Deal expected to close in Q4

NEW YORK - Merck & Co Inc announced plans on Monday for a reorganization once its acquisition of Schering-Plough Corp (SGP.N) closes later this year, including naming leaders for five main divisions.

The drugmaker said the new structure will help it take advantage of opportunities in emerging markets, biologics and vaccines -- high-growth potential areas that many pharmaceutical rivals are focusing on as well.

The new Merck will have five main divisions: global human health, animal health, consumer health care, manufacturing and Merck Research Laboratories. Each division leader will be a member of a new Merck executive committee and report to Chief Executive Richard Clark.

The deal -- valued at $41 billion when it was announced in March -- is expected to close in the fourth quarter, Merck said. (Reporting by Lewis Krauskopf, editing by Gerald E. McCormick)

Merck & Co.