Abbott Offers EU Antitrust Remedies On Solvay Deal

Law360, New York (January 22, 2010, 12:48 PM EST) -- The European Commission extended its deadline to review Abbott Laboratories' $6.6 billion bid for Solvay Group's pharmaceutical business on Friday, after Abbott offered remedies to the antitrust watchdog's concerns over a diagnostic test.

The regulator pushed the deadline by 10 working days — from Jan. 28 to Feb. 11 — because of the commitments from Abbott.

The commission's concerns are limited to a diagnostic test in Europe, according to Abbott spokeswoman Tracy Sorrentino. She declined to elaborate on the nature of the test or the details...
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