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Schering-Plough Secures EU Approval for Organon Purchase

11:12 AM MDT | October 15, 2007 |

Deepti Ramesh

Schering-Plough (Kenilworth, NJ) says that it has received approval from the European Commission (Brussels) for its previously announced acquisition of Organon Biosciences (Oss, Netherlands), a wholly owned subsidiary of Akzo Nobel (Amsterdam). The deal, worth about $14.4 billion, was first announced in March of this year. Schering-Plough is awaiting certain regulatory approvals including clearance from the U.S. Federal Trade Commission (Washington DC). Akzo Nobel and Schering-Plough expect the deal to be completed by year end. The commission found that the...

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