Merck and Schering-Plough win regulatory approvals for merger

Fri. October 30, 2009; Posted: 08:54 AM

Look up the PowerRating of MRK and see how it has performed over the past week as well as the current proprietary PowerRating.

Oct 30, 2009 (Datamonitor via COMTEX) -- MRK | Quote | Chart | News | PowerRating -- Merck & Co and Schering-Plough have received clearance from the US Federal Trade Commission, or FTC, the Swiss Competition Commission and the Canadian Competition Bureau for their proposed merger.

The companies said that the FTC terminated the waiting period under the Hart-Scott-Rodino Improvements Act of 1976, as amended, and cleared the pending merger. The companies also stated that the Canadian Competition Bureau terminated the waiting period under the Canadian Competition Act and cleared the proposed transaction.

The transaction remains subject to approval from other regulators, including China and Mexico. Merck and Schering-Plough continue to expect the transaction to close in the fourth quarter of 2009.

Richard Clark, president and CEO of Merck, said: "Clearances from the FTC, the Swiss Competition Commission and the Canadian Competition Bureau mark significant steps in the completion of our merger with Schering-Plough. As we work with regulators on the remaining approvals necessary for the close, we stand ready to serve patient needs as a new global healthcare leader."

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For full details on Merck & Co (MRK) click here. Merck & Co (MRK) has Short Term PowerRatings of 5. Details on Merck & Co (MRK) Short Term PowerRatings is available at This Link.

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