ACCC Clears $68B Pfizer, Wyeth Deal With Conditions

Law360, New York (September 30, 2009, 1:52 PM EDT) -- Pfizer Inc. has obtained the Australian Competition and Consumer Commission's approval for its $68 billion acquisition of rival drugmaker Wyeth Inc., subject to the divestiture of certain Australian animal health assets.

The ACCC's approval, announced Wednesday, removes another hurdle from the two global pharmaceutical companies' merger, but the deal remains subject to regulatory approvals in the United States and Canada.

“We are pleased to have achieved another significant milestone this week with the ACCC’s approval of the pending acquisition,” said Jeff Kindler, Pfizer chairman and CEO....
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