BRUSSELS (Reuters) - EU antitrust regulators have approved Procter & Gamble’s (P&G) 3.4 billion euro (£3.08 billion) acquisition of Merck KGaA’s consumer health unit, saying on Tuesday that they had no competition concerns.
The takeover would add vitamin brands such as Seven Seas to a P&G portfolio that includes Pampers diapers and Gillette razors while boosting its presence in Latin America and Asian markets.
The sector has undergone a wave of consolidation in recent years as companies bulk up product ranges and businesses in other markets, but the European Commission said that a preliminary review of the deal found no serious issues.
“The transaction gives rise to a limited number of horizontal overlaps for which the Commission found, following its market investigation, that sufficient competition will remain after the transaction,” the Commission said in a statement.
Reporting by Foo Yun Chee; Editing by David Goodman