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EU approves P&G takeover of Teva drugs division
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| Bob MacDonald (R), President and Chief Executive Officer of Procter & Gamble, attends the inauguration of a new Procter & Gamble plant in Urlati, Romania in 2010. The European Commission gave its green light on Friday to the takeover by US consumer produc |
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(Brussels, BEL) - The European Commission gave its green light on Friday to the takeover by US consumer products giant Procter & Gamble of the 'over-the-counter' division of Israeli drugmaker Teva.
Anti-trust inspectors "concluded that the proposed transaction would not raise competition concerns, because the merged entity would continue to face sufficient competition in the markets concerned," Brussels said.
The companies announced in March the tie-up covering pain-relief and other products with sales of around a billion dollars.
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