With Divestitures, Schering Gets OK To Buy Rival

Law360, New York (November 16, 2007, 12:00 AM EST) -- Schering-Plough Corp. received a thumbs up on its $14.4 billion takeover of an Akzo-Nobel NV unit on Friday, after it agreed to sell off certain assets in response to regulatory concerns that the deal could harm competition in the poultry vaccine market.

A day after the Federal Trade Commission lodged a complaint challenging Schering-Plough's bid to buy Akzo-Nobel's Organon BioSciences NV, the regulator announced that the pharmaceutical giant had agreed to divest the rights and assets it needs to develop and sell three types of poultry...
To view the full article, register now.