French regulators approve Actavis-Warner Chilcott merger
PARSIPPANY, N.J. — Actavis and Warner Chilcott have received approval from all necessary antitrust clearances for their merger from regulators outside the United States, the companies said Friday.
The drug makers said that the French Competition Authority had approved U.S.-based Actavis' acquisition of Ireland-based Warner Chilcott. The German Federal Cartel Office had previously approved the deal as well.
Actavis announced in May that it would acquire Warner Chilcott for $8.5 billion. Last month, the U.S. Federal Trade Commission requested additional information from the companies about the merger, which also had the effect of extending the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 until 30 days after they have complied with it. The companies said they intended to fully cooperate with the FTC and expected the deal to close in the second half of this year.
Like this story? Find us on Facebook for more insight, analysis and the latest in drug store news. Join the conversation.