International News In Brief
This article was originally published in The Gray Sheet
Executive Summary
Siemens AG/Draegerwerk: European Commission opts to extend investigation of German hospital equipment joint venture Jan. 22. Under the deal, Siemens will transfer its ventilator, anesthesia delivery and patient monitoring businesses to Draegerwerk in exchange for a 35% share of wholly owned subsidiary Draeger Medical, which would then be jointly controlled by the two partners. The proposed transaction would lead to a combined ventilator market share that proved sufficient to trigger an in-depth inquiry by the EC, which has four months to issue a final decision on the merger...
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International News In Brief
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...
International News In Brief
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...
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