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S. Korea conditionally approves Danaher's purchase of GE biopharma unit

All News 12:00 February 04, 2020

SEJONG, Feb. 4 (Yonhap) -- South Korea's antitrust regulator said Tuesday it has conditionally approved a deal by U.S. medical equipment maker Danaher to buy General Electric's biopharma unit, after requiring Danaher to sell some assets.

Danaher announced the US$21 billion deal in February last year, which will strengthen its market position in the biopharma industry.

In a statement, Korea's Fair Trade Commission (FTC) said the requirement is necessary because the deal would hurt competition.

The FTC's decision is in line with the European Union's conditional approval for the deal, an FTC official said.

kdh@yna.co.kr
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