NEW YORK - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
EU Commission probes J&J plan to buy Synthes
BRUSSELS (Reuters) - The European Commission said on Friday it was opening and in-depth investigation into the proposed purchase by Johnson & Johnson (JNJ.N) of Swiss medical device maker Synthes SYST.VX to make sure it does not harm competition.
"The proposed acquisition would remove a competitor from some markets which are already concentrated. The Commission needs to make sure that effective competition is preserved, in order to maintain innovation and prevent harm to patients," Joaquin Almunia, EU commissioner in charge of competition policy, said in a statement.
The $21.3 billion bid by Johnson & Johnson to boost its orthopedics franchise would be the firm's largest ever acquisition.
The EU statement said the Commission would now have 90 working days, until March 19, 2012, to take a final decision on whether the transaction would reduce competition in the European Economic Area.
(Reporting by David Brunnstrom)
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