Sanofi-aventis/Merial transaction consultation opens

Sanofi-aventis’ application to purchase Merck’s 50 per cent stake in the two companies’ joint animal health venture Merial has been received by European commission, the body has announced.

In a statement issued yesterday in the Official Journal of the European Union, the organisation explained that it received a notification of the proposed concentration on August 11th and that a ten-day consultation period has now begun.

The body explained that interested third parties should ensure that their observations are received by the European commission by August 28th so that they may be taken into consideration.

In addition, the OJEU said that the transaction may fall within the scope of regulation (EC) 139/2004, but said that the final decision on this matter is reserved.

Sanofi-aventis and Merck made their initial announcement regarding the former’s purchase of the latter’s interest in Merial, which was formed in 1997, on July 30th.

They said that when the transaction is completed, Sanofi-aventis will own 100 per cent of Merial.