FTC asks Actavis, Warner Chilcott for more info on merger

The Federal Trade Commission (FTC) is taking a closer look at what the $8.5 billion buyout of Warner Chilcott ($WCRX) by Actavis ($ACT) will mean for consumers. The rapidly growing Actavis today said that both companies have been asked by the FTC to provide additional information, a request it said will extend the waiting period to complete the deal by another 30 days--that is, unless the FTC is satisfied and cuts it shorter. Actavis said it expects to close the deal, first announced in May, in the second half of the year. The acquisition will create an $11 billion company, and CEO Paul Bisaro has said it will give Actavis four "core" therapeutic areas--women's health, gastroenterology, urology and dermatology--worth about $3 billion. In some cases, the FTC makes companies spin off some of their businesses to competitors if they think a merger will provide too much concentration in a certain area. Release | More

Suggested Articles

Turns out Procter & Gamble didn’t want Pfizer’s consumer health unit after all. But it did want Merck KGaA’s.

Private equity firm, in exclusive talks with Sanofi, says it'll invest to pump up Zentiva into an "independent European generics leader."

With suitor Takeda circling Shire, the Dublin-based target has pulled off a deal of its own.