Brussels backs €11bn Organon deal

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Organon BS of The Netherlands, a subsidiary of Akzo Nobel active worldwide in human and animal health, by the global pharmaceutical company Schering-Plough Corporation of the US, subject to conditions. The Commission found that the proposed transaction as initially notified would have given rise to competition concerns in twelve product areas and more than thirty relevant national markets. To address the Commission's concerns, SP offered to divest the overlapping activities in all the markets raising serious doubts. In light of these commitments, the Commission concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

European Commission: Press Release: IP/07/1489: Mergers: Commission approves proposed acquisition of Organon BS by Schering-Plough, subject to conditions http://europa.eu/rapid/pressReleasesAction.do?reference=IP/07/1489&format=HTML&aged=0&language=EN&guiLanguage=en

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