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EU clears 3.4 billion euro P&G deal for German Merck's consumer health business unit

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EU clears 3.4 billion euro P&G deal for German Merck's consumer health business unit

EU clears 3.4 billion euro P&G deal for German Merck's consumer health business unit
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Brendan McDermid(Reuters)
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BRUSSELS (Reuters) - EU antitrust regulators have approved Procter & Gamble's (P&G) 3.4 billion euro (£3.08 billion) acquisition of Merck KGaA's consumer health unit, saying on Tuesday that they had no competition concerns.

The takeover would add vitamin brands such as Seven Seas to a P&G portfolio that includes Pampers diapers and Gillette razors while boosting its presence in Latin America and Asian markets.

The sector has undergone a wave of consolidation in recent years as companies bulk up product ranges and businesses in other markets, but the European Commission said that a preliminary review of the deal found no serious issues.

"The transaction gives rise to a limited number of horizontal overlaps for which the Commission found, following its market investigation, that sufficient competition will remain after the transaction," the Commission said in a statement.

(Reporting by Foo Yun Chee; Editing by David Goodman)

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