December 18, 2019 / 5:57 PM / a month ago

Danaher wins conditional EU okay for $21 billion biopharma buy

BRUSSELS (Reuters) - U.S. medical equipment maker Danaher (DHR.N) secured conditional EU approval on Wednesday for its $21.4 billion bid for General Electric’s (GE.N) biopharma business after agreeing to sell five businesses to address competition concerns.

Danaher unveiled the deal in February, which will boost its presence in the biopharma industry, giving it access to tools for research and development of drugs.

The European Commission said Danaher will sell businesses in the United States, China, France and Britain after it voiced concerns that the deal would have reduced competition and pushed up prices of certain products in some markets.

Reporting by Foo Yun Chee

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