German chemical and pharmaceutical group Bayer AG (BAYN.XE) said Wednesday it has received U.S. antitrust approval for its acquisition of California-based Conceptus Inc. (CPTS).

MAIN FACTS:

-The U.S. Federal Trade Commission raised no objection to the transaction.

-In early May, a Bayer HealthCare unit made a cash offer of $31 per share for all Conceptus shares, after signing a merger agreement in late April.

-The total value of the transaction is around $1.1 billion.

-Conceptus developed Essure, the only non-surgical permanent birth control method, which is marketed in the U.S. and other countries.

-The move is aimed at bolstering Bayer's flagging contraceptives business after patents for some of its products have expired, damping sales.

 
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500 
 

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