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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