Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) is seeking early EU regulatory approval for its $40.5 billion acquisition of Allergan generics unit by offering concessions to regulators, "Bloomberg" reports citing "a person familiar with the matter."
"Bloomberg" reports that Teva and Allergan will, "meet a Thursday midnight deadline to propose remedies aimed at allaying any EU antitrust concerns, said the person, who asked not to be named because the process is private."
Approval by EU regulators of Teva's proposals, would clear the deal without a protracted investigation that could last as long as 90 working days and prevent the companies from closing the deal by the end of March as they plan.
Teva spokesman Paul Williams told "Bloomberg" by email that, discussions with the EU are "productive and positive" but that it can’t predict how or when they will be completed.
Allergan and the European Commission declined to comment.
"Bloomberg" added that, "The US Federal Trade Commission is still examining the transaction, which Brazil’s antitrust regulator approved without conditions in December."
Published by Globes [online], Israel business news - www.globes-online.com - on February 18, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016