European Approval for Pfizer-Wyeth Deal
20 July 2009
Pfizer's pending acquisition of Wyeth has been approved by the European Commission.
However, despite this step forward, final completion of the deal still remains subject to a number of factors; expiration of the waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act, various other governmental and regulatory approvals and, perhaps most importantly, approval by Wyeth stockholders.
In a press release, Amy Schulman, senior vice president and general counsel at Pfizer said: "We are pleased to have achieved another significant milestone for the pending acquisition with the EC's approval of the transaction."
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