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EU: Widex, Sivantos US$8.3B merger approved

 |  February 14, 2019

Danish hearing aid maker Widex expects its merger with Germany’s Sivantos to complete next month after getting European approval, reported Reuters. .

The companies plan to invest more in digital devices as a combined group and to step up their challenge on market leaders Sonova and William Demant.

Sivantos, formerly known as Siemens Audiology, and Denmark’s Widex said in May that they had agreed to form a company worth more than 7 billion euros ($8.3 billion), including 3 billion euros in debt.

Widex said on Thursday that the European Commission had found no issue in competition law with the merger, which has now been approved by all relevant authorities and is expected to be concluded in early March.

Full Content: Reuters

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