5/25, 8:57 AM (Source: TeleTrader)
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UK probes AstraZeneca's $39B takeover of Alexion

The British Competition and Markets Authority revealed on Tuesday it has begun an investigation into the $39 billion deal between AstraZeneca and Alexion Pharmaceuticals over competition concerns.

The United Kingdom's market authority invited all involved parties to provide comments on whether the takeover agreement is reducing competition in any market worldwide by June 3.

Last December, AstraZeneca confirmed it reached a deal to acquire Alexion Pharmaceuticals for $39 billion, prompting Alexion's stocks to surge as much as 30% following the announcement.

Breaking the News / ND