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Image header Agence Europe
Europe Daily Bulletin No. 7678
Contents Publication in full By article 25 / 51
GENERAL NEWS / (eu) eu/competition

Deadline for investigation of Monsanto/Pharmacia & Upjohn merger is postponed until 30 March to take into account undertakings made by parties

Brussels, 16/03/2000 (Agence Europe) - The European Commission postponed from 17 to 30 March the date by which it must take a decision on whether or not to initiate an in-depth investigation into the merger between the American company Monsanto and the Swedish- American Pharmacia & Upjohn, to take into account the undertakings made by the two parties. The companies, which make agricultural and pharmaceutical products, have undertaken to "divest themselves of some minor pharmaceutical products in Scandinavia, that are without importance for the transaction", Monsanto announced in a press release. The shareholders of the groups are expected to give their opinion on the merger on 23 March and the merger is planned to take place on 1 April. Further, on 21 March, the European Commission must state its view on the merger of the Swiss company Novartis and the Anglo-Swedish company AstraZeneca, another operation that is part of a global restructuring taking place between the chemical and agri-industrial giants.

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