12 October 2007 09:52 [Source: ICIS news]
LONDON (ICIS news)--The European Commission has cleared the acquisition of Akzo Nobel’s Organon BioSciences by pharmaceutical company Schering-Plough, the EC said in a statement released late on Thursday.
The proposed transaction initially would have given rise to competition concerns in 12 product areas and more than 30 national markets so Schering-Plough offered to divest overlapping activities, the EC said.
“The commission concluded that the proposed transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it,” the statement said.
The sale was expected to be completed in the second half of 2007.
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