India’s anti-trust authority approves P&G-Merck deal

India’s anti-trust authority approves P&G-Merck deal

India’s Competition Commission has given Procter & Gamble the go ahead to buy a 51.8 percent stake in Merck, according to a report published by The Hindu Business Line.

The acquisition of Merck’s consumer health unit for €3.4 billion, which was agreed back in April, triggered a mandatory open offer under which P&G Overseas India had offered to buy an extra 26 percent stake from Merck’s public stakeholders at R1,500.36 a share.

“P&G’s global scale and strategic interest in the health and well-being of consumers provide an excellent basis for accelerating growth, leveraging our teams’ capabilities and expanding the Consumer Health business profitably. The marketed portfolios, product pipelines and geographic footprints of both businesses are highly complementary,” said Belén Garijo, Member of the Executive Board of Merck KGaA, Darmstadt, Germany, and CEO Healthcare at the time of the acquisition.

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