September 28, 2017 / 5:03 PM / a year ago

Becton Dickinson offers EU concessions over $24 bln Bard deal

BRUSSELS (Reuters) - U.S. medical equipment supplier Becton Dickinson and Co has offered concessions to address EU antitrust concerns over its $24 billion bid for U.S. peer Bard, the European Commission said on Thursday.

The deal, announced in April, is the latest in the medical device sector as companies seek to offset slowing revenue growth, consolidation among healthcare providers and rising pressure from customers to hold down treatment costs.

Becton Dickinson submitted its concessions on Sept. 27, a filing on the EU competition authority showed. It did not provide details, in line with its policy.

Companies typically offer to give rivals access to key technologies or sell off overlapping units to ease regulatory concerns.

The Commission extended its deadline for a decision to Oct. 18 from Oct. 4. It can demand more concessions or open a full-scale investigation of about four months if the companies fail to allay its concerns.

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