UK begins inquiry into AstraZeneca's $39B buyout of Alexion
The UK’s Competition and Markets Authority opened an inquiry on Tuesday into AstraZeneca’s proposed $39 billion acquisition of Alexion.
By July 21, the CMA says it will decide whether the deal will result in a substantial lessening of competition within any markets in the UK. Those looking to comment on the deal have until June 3.
But with the US Federal Trade Commission signing off on the acquisition in April, and nine other countries, including Brazil and Canada, following suit, all signs point to a positive result from the UK.
An AstraZeneca spokesperson told Endpoints News via email, “The commencement of the UK CMA’s formal review is another important step towards closing of the proposed acquisition, which we continue to expect will be in Q3 2021.”
More than 99% of shareholders at both AstraZeneca and Alexion voted for the deal in separate meetings earlier this month.
What will the deal mean for AstraZeneca moving forward? Double-digit revenue growth through 2025 is expected, the UK-based biopharma firm said when it first announced the proposed merger.