J&J Cleared for Pfizer Acquisition

Johnson & Johnson (J&J) announced that the US Federal Trade Commission (FTC) has cleared the company's proposed acquisition of Pfizer Consumer Healthcare. In addition to FTC clearance, the proposal was cleared by the European Commission on Dec. 11, 2006.

The company originally announced the agreement to acquire Pfizer Consumer Healthcare in June 2006 for US$16.6 billion in an all-cash transaction, which is expected to close by year-end.

J&J is one the world's most comprehensive and broadly based manufacturers of health care products, as well as a provider of related services, for the consumer, pharmaceutical, and medical devices and diagnostics markets.

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