EU Approves Pfizer, Wyeth Deal With Conditions

By Christine Caulfield

Law360, New York (July 17, 2009, 6:17 PM ET) -- Pfizer Inc. has secured the European Commission's blessing for its proposed $68 billion acquisition of Wyeth Inc., subject to the divestiture of certain of its animal health products in the European Union.

The EC's approval, announced Friday, removes a major obstacle to the merger of the drug giants, which remains subject to scrutiny by U.S. and other regulators, expiration of a waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and the approval of Wyeth's stockholders.

Pfizer general counsel Amy Schulman said the company was pleased to...
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