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www.fdanews.com/articles/72140-eu-extends-probe-into-novartis-hexal-deal-until-may-27

EU Extends Probe Into Novartis-Hexal Deal Until May 27

May 10, 2005

The European Union Commission extended until May 27 its investigation into Swiss drug maker Novartis AG's purchase of German generic drugmaker Hexal and 67.7 percent of the U.S. company Eon Labs. A decision was originally due May 12. The EU didn't explain the extension. Novartis seeks to purchase the privately-owned Hexal along with the Eon Labs from the Struengmann family for a total of $8.3 billion in cash. Novartis also plans to buy the rest of Eon Labs for $31 per share, at a total of $1 billion.

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