EU clears Baxter's $2.76 billion bid for GambroJuly 22, 2013 @ 9:23 am
BERLIN (AP) - The European Union's antitrust authority has cleared U.S. pharmaceutical company Baxter's proposed $2.76 billion takeover bid of Sweden's dialysis products firm Gambro.
The European Commission said Monday the acquisition can go ahead on condition that Baxter divest its renal replacement therapy, which serves patients suffering from acute kidney failure.
The Commission, the 28-nation bloc's antitrust watchdog, said Baxter's commitment to selling that business line has appeased concerns the takeover would stifle competition in the segment.
Gambro AB makes dialysis products for patients with acute or chronic kidney disease and it has annual sales of about $1.6 billion.
Baxter International Inc., based in Deerfield, Illinois, proposed to buy the privately held Swedish firm in December.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
The man behind a staged child abduction apologizes for scaring young kids, parents
An army of volunteers is making sure mudslide searchers get to put on warm, dry clothes
Two airlines are battling for your business and you're the winner
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.