Bayer/Schering AG deal satisfied HSR Act
German pharmaceutical and chemical group Bayer's previously-announced takeover of Schering AG (Marketletter April 3) is proceeding smoothly as far as US regulatory authorities are concerned, with the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act having expired.
This expiration has satisfied the conditions to the tender offer described in section 6.1.2. of the offer document, although it remains subject to the conditions set forth in clause (i) of this, which requires that the deal has been cleared, or deemed to have been, by the European Commission, says Dritte BV GmbH, a wholly-owned subsidiary of Bayer.
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