International News In Brief
This article was originally published in The Gray Sheet
Executive Summary
Siemens/Draegerwerk: European Commission clears German Draeger Medical joint venture April 30; approval of the merger is subject to divestiture of Siemens' ventilator and anesthesia delivery business. In fiscal 2004, the combined firm is expected to generate about $1.1 bil.; EC extended its investigation in January, citing "significant market consolidation" in recent years (1"The Gray Sheet" Jan. 27, 2003, p. 10). In the U.S., where the deal already has been granted unconditional clearance due to smaller market shares, EC is "cooperating closely" with DoJ on a separate deal under which GE would acquire Finland's Instrumentarium. A final decision on that merger is due by Aug. 18...