EU Approves J&J's $21.3 Billion Takeover of Synthes

J&J had pledged corrective measures to guarantee substantial competition in the interest of patients and national health care programs.

The European Commission approved, on April 19, a takeover of the U.S. surgical equipment company Synthes by pharmaceutical giant Johnson & Johnson (IW 1000/54) in exchange for J&Js divestment of other units.

The acquisition was said to be worth around $21.3 billion.

An extensive Commission probe found that, following divestments by Johnson & Johnson of activities in the trauma sector, the entity created by the deal would continue to confront several powerful competitors, a statement said.

Competition commissioner Joaquin Almunia added that J&J had pledged corrective measures to guarantee substantial competition in the interest of patients and national health care programs.

Copyright Agence France-Presse, 2012

See Also
Johnson & Johnson to Fight $1.2 Billion Fine

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