Siemens wins EU approval to buy Dade Behring
26/10/2007 16:34
The German engineering giant Siemens won approval from the European Union
(EU) yesterday to buy US company Dade Behring, a deal to create the world's
leading group in immunochemistry markets.
The European Commission, the EU's
antitrust watchdog, said in a statement that the transaction would not
significantly impede effective competition since there were several reputable
competitors in the markets.
Siemens is Europe's biggest engineering company,
active in various manufacturing, technology and service sectors, including
medical systems.
It announced the plan to buy Dade Behring, a producer of
clinical diagnostics for cancer, allergies and fertility, for US$7 billion (5.09
billion euros) in July.
In addition to the purchases of Diagnostic Products
Corporation and Bayer Diagnostics last year, Siemens is creating the one of the
leading groups in both European and global markets for immunochemistry.
Xinhua
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