(Reuters) – Australian blood products group CSL Ltd (CSL.AX) said on Thursday it would fight a U.S. regulator’s move to block its planned $3.1 billion takeover of U.S. rival Talecris Biotherapeutics Holdings Corp.
The U.S. Federal Trade Commission has authorized its staff to seek a preliminary injunction to stop the transaction, saying the deal would substantially reduce U.S. competition in the markets for four plasma-derivative protein therapies.
“We strongly disagree with the FTC’s decision to challenge the deal. CSL intends to vigorously oppose the FTC’s actions,” CSL Managing Director Brian McNamee said in a statement.
He said U.S. regulators had failed to recognise that the deal would actually boost competition in the plasma products market and had failed to take into account remedies that CSL had offered to address their concerns.
Talecris is owned by private equity groups Cerberus Partners and Tribeca Investment Partners. (Reporting by Sonali Paul)