South Korea’s antitrust watchdog has approved Danaher’s proposed $21.4 billion acquisition of General Electric’s biopharma division on condition that they sell certain assets to address monopoly concerns,reported Reuters.
The US medical equipment maker Danaher got conditional EU approval in December for the deal after agreeing to sell five businesses to address worries about competition.
GE agreed a year ago to sell its biopharma business to Danaher in the biggest strategy reversal under its Chief Executive Lawrence Culp.
“The merger of the two US firms will likely have impact on South Korea’s bioprocessing market, which heavily relies on imports of foreign goods,” the Korea Fair Trade Commission (KFTC) said in a statement, citing potential price hikes and monopoly concerns over the merger.
The KFTC said the companies need to sell eight bioprocessing product assets to address monopoly concerns.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI