Grifols closer to Talecris acquisition, but must sell assets

Spanish health care group Grifols (GRLS: MC) and acquisition target Talecris Biotherapeutics (Nasdaq: TLCR) of the USA have signed a Consent Agreement with officials of the US Federal Trade Commission by means of which the conditions for the merger transaction between both companies are agreed. The Consent Agreement is subject to approval of the FTC Commissioners, who will be reviewing the matter.

Grifols launched a $3.4 billion takeover of Talecris last year (The Pharma Letter June 7, 2010) which was later referred to the FTC, which had previously blocked a $3.1 billion deal between the US firm and Australia’s CSL on anti-trust concerns (TPL June 9, 2009).

Grifols is Europe’s largest maker of blood-plasma products, and the addition of Talecris would give it a bigger share of the $7 billion US market for blood-based infusions, where it will compete with Baxter International as well as CSL, noted Bloomberg.