AZN - U.K. competition regulator to investigate AstraZeneca's $39B acquisition of Alexion

AstraZeneca's (AZN) proposed acquisition of Alexion Pharmaceuticals (ALXN) for $39B (£27.5B) is now under investigation by Britain's competition regulator, reports Proactiveinvestors.The Competition and Markets Authority ((CMA)) said it is considering whether it is or may be the case that this transaction will become a merger and, if so, whether that situation may result in a substantial lessening of competition across the markets in U.K.The watchdog has opened an invitation to comment until June 3 for parties involved.AstraZeneca has received approval in the U.S., Canada, Brazil, Russia but was still waiting for the green light from U.K., EU and Japan.The deal was announced in December 2020 to boost AZN's rare disease portfolio and accelerate presence in immunology.On May 11, Alexion shareholders approved the takeover, valuing the company at $39B, or $175 a share, representing a whopping 45% premium over the closing price on December 11, 2020 - the day before bid

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U.K. competition regulator to investigate AstraZeneca's $39B acquisition of Alexion