Published On: Thu, Feb 18th, 2016

Teva offering concessions for Allergan takeover – Bloomberg

Erez Vigodman- TEVA

 

Teva Pharmaceutical Industries Ltd. will try to win fast European Union approval for its takeover of Allergan’s generics unit by making concessions to regulators, according to “Bloomberg” reports citing” a person familiar with the matter.

“Bloomberg” reports that Teva and Allergan will, “meet a Thursday midnight deadline to propose remedies aimed at allaying any EU antitrust concerns, said the person, who asked not to be named because the process is private.”
EU regulators Approval of Teva’s proposals, would clear the deal without an extended probe that could take up to 90 working days. The two companies plan to close the deal by the end of March.
Teva’s $40.5 billion cash-and-stock bid for Allergan’s generics drugs business will make it the world’s largest maker of generic medicines, giving it greater negotiating power with governments and private-health insurers. Allergan will receive a $1 billion termination fee from Teva if the deal fails to close due to regulatory issues.
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