4th Mar 2016 07:48
LONDON (Alliance News) - UDG Healthcare PLC on Friday said it has received competition clearance from the European Commission for the proposed disposal of its United Drug Supply Chain and MASTA businesses.
The FTSE 250-listed group said in September it had entered into an agreement to sell the two units, which are based in Ireland, for EUR407.5 million to McKesson Corp, the US drug distribution company.
On Friday, UDG said the European Commission has granted clearance, and has referred the UK aspects of the proposed transaction to the UK Competition & Markets Authority for review.
UDG said it now expects the transaction to complete on April 1.
By Hannah Boland; [email protected]; @Hannaheboland
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