A PYMNTS Company

Germany: Bayer buyout inches towards completion

By  |  January 10, 2014

Pharmaceutical conglomerate Bayer received clearance from Germany’s Federal Cartel Office this week for the company’s planned acquisition of Norway-based biotech company Algeta, say reports, placing Bayer closer to its goal of adding a new cancer drug to its portfolio.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The regulatory clearance comes after Algeta’s board of directors approved the transaction, to be made for $2.87 billion. The deal remains subject to approval from Bayer shareholders.

    Bayer and Algeta have already partnered up to develop the cancer therapy treatment drug Xofigo, a joint venture started in 2009.

    Full Content: The Motley Fool

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.