August 28, 2018 / 10:42 AM / 22 days ago

EU clears $3.9 bln P&G deal for German Merck's consumer health business unit

BRUSSELS, Aug 28 (Reuters) - EU antitrust regulators have approved Procter & Gamble's (P&G) 3.4 billion euro ($3.9 billion) acquisition of Merck KGaA's consumer health unit, saying on Tuesday that they had no competition concerns.

The takeover would add vitamin brands such as Seven Seas to a P&G portfolio that includes Pampers diapers and Gillette razors while boosting its presence in Latin America and Asian markets.

The sector has undergone a wave of consolidation in recent years as companies bulk up product ranges and businesses in other markets, but the European Commission said that a preliminary review of the deal found no serious issues.

"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. ($1 = 0.8744 euros) (Reporting by Foo Yun Chee Editing by David Goodman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below