Plus   Neg

CMA Launches Inquiry Into Dechra's Planned Acquisition Of Elanco's Osurnia

The UK Competition and Markets Authority or CMA Monday said it has launched a merger inquiry into Dechra Pharmaceuticals PLC's (DPH.L) anticipated acquisition of the Osurnia business of Elanco Animal Health Inc. (ELAN).

The CMA said it is considering whether the transaction would result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002. If so, whether the creation of that situation may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

The CMA informed the parties about the launch of its merger inquiry by notice on April 20 and has a deadline of June 17 for its phase 1 decision.

It was in early January that Elanco agreed to divest Osurnia, a treatment for otitis externa in dogs, to Dechra for $135 million. This deal is related to Elanco's acquisition of Bayer AG's (BAYZF.PK, BAYRY.PK, BYR.L) animal health business.

Dechra then expected the acquisition to be earnings enhancing for the financial year ending 30 June 2021.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon.com, Inc. can be held liable for damages caused by defective goods sold on its Marketplace including third parties, according to a ruling by a California appeals court. The California Fourth District Court of Appeals was pronouncing the ruling in a case where a defective replacement laptop battery caught fire and inflicted a woman with third-degree burns. Facebook has launched "Voting Information Center" on Facebook and Instagram platforms, with a view to boosting the number of Americans vote in the upcoming U.S. presidential election in November. The social media giant's latest initiative is expected to help 4 million voters register this year, and help them navigate a 'confusing election process'. Epic Games Inc., the developer of popular game Fortnite, has filed lawsuits against both Apple Inc. and Google after they removed the game from their app stores. The development reflects disputes related to app store fee the tech giants take from each purchase. Epic Games, which has been against the 30 percent revenue cut the two tech giants take from paid apps, added a direct payment option.
Follow RTT