US probes AstraZeneca spin-off
LIFE sciences giant AstraZeneca has been asked by the US federal trade commission to provide more information about the spin-off of its agrochemicals division.
The £9.5 billion business is due to be merged with Swiss group Novartis agrochemicals division to create a new company, Syngenta.
Analysts believe regulators require the sale of seeds and crop protection to overcome competitive concerns, reportsThe Guardian.
AstraZeneca still hopes to complete the deal by the second half of the year.
- Novartis and AstraZeneca to merge, FWi, 02 December, 1999
- The Guardian 22/02/2000 page 27.