May 24, 2011 / 1:55 PM / in 7 years

Grifols says to close Talecris buy at start of June

* To begin Talecris integration after U.S. approval

* Statement indicates U.S. rubberstamp is near

MADRID, May 24 (Reuters) - Spanish blood products firm Grifols (GRLS.MC) expects to close its planned $4 billion takeover of peer Talecris TLCR.O at the beginning of June, following U.S. regulatory approval.

“Once approval is received we expect to close the deal during the first days of June, thus starting the integration process,” Grifols said in a statement after a shareholders’ meeting in Barcelona on Tuesday.

The statement from Grifols -- which makes medicines such as intravenous immune globulin (IVIG), albumin and other products from blood plasma -- indicated that the U.S. Federal Trade Commission’s rubber stamp is near.

    Grifols’ tie-up with Talecris will create the world’s third-largest maker of blood plasma products, competing with Baxter International Inc (BAX.N) and Australia’s CSL (CSL.AX).

    Grifols said last month it had agreed to sell some assets and make commercial agreements with Italy’s Kedrion, creating a stronger rival in the sector, in order to smooth U.S. approval. [ID:nLDE7410V5]

    For a SCENARIOS on the deal, click on [ID:nLDE70Q1EF]

    Reporting by Tracy Rucinski; Editing by Louise Heavens

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