EC clears GE's acquisition of Abbott Labs' IVD unit

The European Commission has cleared, under the European Union Merger Regulation, the proposed purchase of health care major Abbott Laboratories' in vitro diagnostics business by fellow USA-based General Electric. Abbott Diagnostics is one of the world's leading suppliers of IVD products to the health care profession, and GE is also active in this sector. The Commission concluded that the new entity would not be able to restrict its downstream IVD rivals' access to key inputs and thus impede competition in the European Economic Area.