News
CSL, Talecris press release on ending merger agreement
PR Newswire
CSL and Talecris Biotherapeutics announced today that they have mutually agreed to terminate their merger agreement, announced on August 12, 2008, under which CSL agreed to acquire Talecris for $3.1 billion in cash.
Dr. Brian McNamee, CEO and Managing Director of CSL Limited, said, “We are disappointed that the US Federal Trade Commission (FTC) resolved to block the transaction. As we have previously stated we fundamentally disagree with the FTC case and matters included in their complaint. Although we continue to believe in the many customer benefits and significant financial synergies that supported the transaction, CSL’s Board of Directors did not believe that entering into a protracted litigation process with the FTC, with its inherent risks, substantial costs, and lengthy distraction of CSL management and staff from planning and running our businesses would be in the best interests of our stakeholders.”
