October 18, 2017 / 2:16 PM / in 9 months

Becton Dickinson wins conditional EU approval for $24 billion Bard buy

BRUSSELS (Reuters) - U.S. medical equipment supplier Becton Dickinson (BDX.N) secured EU antitrust approval for its $24-billion acquisition of U.S. peer C R Bard BCR.N after it agreed to sell two businesses to allay competition concerns.

The deal, the latest in a recent wave of mergers and acquisitions in the medical technology sector, will boost Becton Dickinson’s presence in the high-growth oncology and surgery market.

The European Commission demanded the concessions because it was concerned the deal would reduce competition and hurt innovation.

The EU antitrust enforcer said Becton Dickinson pledged to sell its global core needle biopsy devices business and a tissue marker product currently in the development stage.

Reporting by Foo Yun Chee; editing by Robert-Jan Bartunek

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