Schering-Plough acquisition of Organon BioSciences gets European Commission approval

Published: 12-Oct-2007
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Schering-Plough Corporation has received approval from the European Commission for its planned acquisition of Organon BioSciences from Akzo Nobel as announced in March.


Schering-Plough Corporation has received approval from the European Commission for its planned acquisition of Organon BioSciences from Akzo Nobel as announced in March.

In connection with the clearance, Schering-Plough has agreed to divest certain animal health products in Europe. No divestitures of human health products are required.

The company still needs to secure certain regulatory approvals, including clearance from the US Federal Trade Commission, but expects the transaction to be completed by the end of 2007.

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Schering-Plough to acquire Organon BioSciences

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Schering-Plough Corporation is to acquire Organon BioSciences, the human and animal health care businesses of Akzo Nobel, for approximately Euro 11bn in cash (US$14.4bn). The transaction is expected to close by the end of 2007.

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Schering-Plough to acquire Organon BioSciences

<p>Schering-Plough Corporation is to acquire Organon BioSciences, the human and animal health care businesses of Akzo Nobel, for approximately Euro 11bn in cash (US$14.4bn). The transaction is expected to close by the end of 2007.</p>
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