EC eyes J&J-Pfizer
This article was originally published in The Tan Sheet
Executive Summary
The European Commission says it will decide by Nov. 27 whether to sign off on Johnson & Johnson's proposed acquisition of Pfizer Consumer Healthcare or to open a full-scale investigation in a process that could last three months. The EC's Competition Directorate will accept comments on the proposed deal until 10 calendar days from the date it announced its preliminary review, Oct. 26. J&J proposes paying $16.6 bil. for Pfizer's OTC brands, including Nicorette and Sudafed (1"The Tan Sheet" July 3, 2006, p. 3). To facilitate the deal's completion, J&J already has agreed to sell its OTC Zantac heartburn medication to Boehringer for $509 mil. (2"The Tan Sheet" Oct. 16, 2006, p. 9)...