Sandoz and Ciba's proposed $90 billion merger, to form Novartis, the world's second largest pharmaceutical company has, as have other merger plans, been referred to the European Commission competition authority. However, the Commission has now extended its probe into the deal, prompting speculation that it could be looking for changes in the plan.
Competition commissioner Karel Van Miert, in reply to questions, said the Commission might begin a four-month investigation of the deal since one month was not enough to assess such a complex operation, which involves several dozen different products.
Competitors Have Questioned The Merger Mr Van Miert said the Commission has received comments from Sandoz and Ciba competitors, but declined to name them. "Some competitors are very interested in knowing what is going on and have asked for a totally transparent procedure," he said, adding that these companies have told the Commission that they have some doubts and criticisms which "we must be able to answer."
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