AstraZeneca's $39 billion buyout of U.S.-based rare diseases business Alexion is expected to close next week following a green light from Britain's competition watchdog.
The U.S. Federal Trade Commission gave the takeover the ok in mid-April, but a month later, the Competition and Markets Authority — the UK's competition regulator — launched an anti-competition inquiry into the mega-deal.
The CMA's merger inquiry assessed "whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services." Following its initial assessment, the regulator has decided not to initiate a broader probe into the deal.
Following the expected close on July 21, the deal will create a group focusing on rare diseases. This group will be named "Alexion, AstraZeneca Rare Disease," and will be headquartered in Boston, U.S.
Read the press release.