8/28/2018, 2:56 PM (Source: TeleTrader)
more TeleTrader news

EU Commission clears Merck, P&G €3.4B deal

The European Commission approved the acquisition of Merck's consumer health business by Procter & Gamble on Tuesday. The EU regulator said that the agreement does not violate any European competition regulations. The deal is worth approximately €3.4 billion and Merck's vitamin brands will be added into P&G's portfolio of products, mostly sold over the counter. It also enhances P&G's presence in Latin America and in various Asian markets.

"The transaction gives rise to a limited number of horizontal overlaps for which the Commission found, following its market investigation, that sufficient competition will remain after the transaction," the Commission said in a statement.

Merck shares added 0.11% at 2:52 pm CET. Procter & Gamble increased 0.10% in the premarket trading.

Breaking the News / SS