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Germany: Drug giant Bayer gets US approval for $1.1B buyout

 |  May 29, 2013

Germany-based drug conglomerate Bayer AG has received approval from the US Federal Trade Commission to acquire contraceptive company Conceptus. Bayer has made an offer of $1.1 billion in a move the company says will help expand its birth control businesses. An announcement to buy the California-based company was made last month. While Bayer already markets various birth control pills, Conceptus specializes in an irreversible birth control method. The parties expect to complete the deal by the middle of the year.

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