Update September 2009: A group of California pharmacies have filed a challenge to the merger in the Northern District of California. The pharmacies cite the fact that banks receiving TARP money are financing the deal as well as the size of the merged firm as grounds for blocking the deal.
Pfizer Inc. has secured the European Commission’s blessing for its proposed $68 billion acquisition of Wyeth Inc., subject to the divestiture of several animal health vaccines, pharmaceuticals and medicinal feed additives in the European Economic Area. This divestiture has eased the EU’s earlier concerns that the proposed transaction would significantly impede effective competition in the EEA. Although clearing this obstacle, the deal still remains subject to scrutiny by U.S. and other regulators, expiration of a waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and the approval of Wyeth’s stockholders.
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Wyeth Stockholders approved the merger on July 20th, 2009. 98% of the shares voted in favor of the merger.