Australian Watchdog Delays Aspen's Sigma Bid

Law360, New York (October 27, 2010, 3:25 PM EDT) -- Australia's competition watchdog will hold off on allowing a proposed merger between Aspen Pharmacare Holdings Ltd. and Sigma Pharmaceuticals Ltd. over worries the deal would reduce competition, given the companies' overlapping drug portfolios.

In a preliminary report issued Wednesday, the Australian Competition and Consumer Commission, which has the authority to derail the deal, said it would discuss the proposal with the companies and other industry leaders before issuing a final order on Nov. 25.

In August, South Africa-based Aspen agreed to shell out AU$900 million ($816...
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