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CSL, Talecris agree to drop merger, citing cost, distraction of fighting lengthy battle with Federal Trade Commission
Reuters
WASHINGTON – Australian blood products group CSL Ltd and smaller US rival Talecris Biotherapeutics have terminated their $3.1 billion merger agreement under pressure from US antitrust regulators, the companies said today.
CSL, which also makes vaccines, said in August that it would buy Talecris, looking to boost its presence in the fast-growing biotherapeutics industry. But the US Federal Trade Commission moved to challenge the acquisition, saying the deal would substantially reduce competition in U.S. markets for four plasma-derivative protein therapies.
CSL said it would pay Talecris a $75 million breakup fee, and the plasma supply contract signed in connection with the merger agreement would remain in effect.
