July 16, 2018 / 1:02 AM / a year ago

Australia's Sirtex clears U.S. regulatory hurdle for Chinese buyout

(Reuters) - Liver cancer treatment maker Sirtex Medical SRX.AX said on Monday that the U.S. Federal Trade Commission cleared its $1.4 billion buyout by a Chinese consortium, clearing a major hurdle for the deal to go through.

The company had agreed last month to be taken over by Beijing-based CDH Investments and its partner, China Grand Pharmaceutical and Healthcare Holdings (0512.HK), which trumped a bid from U.S.-based Varian Medical Systems (VAR.N).

Sirtex, which has a large portion of its operations in the United States, received clearance for the buyout from Australia’s Foreign Investment Review Board earlier in the month.

Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates

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