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Friday, February 4, 2011

Grifols sees FTC ruling on Talecris by March 6, (GRLS), (NASDAQ: TLCR), (NYSE: BAX), (CSL)

Spanish healthcare firm Grifols (GRLS.MC) now expects a U.S. regulatory ruling on its $4 billion takeover of Talecris (TLCR.O) by March 6, it said on Friday, sending its shares higher on hopes that clearance is near. Grifols agreed to buy U.S. firm Talecris last year in a bid to become the world's third largest maker of blood plasma products, competing with rivals such as Baxter International (BAX.N) and Australia's CSL (CSL.AX). The company had hoped to close the deal in 2010, but approval from the U.S. Federal Trade Commission, which rejected a takeover of Talecris by CSL two years ago, is taking longer than expected. "Under the new timeframe we expect a resolution no later than March 6, unless a favourable resolution is reached beforehand," Grifols said in a statement.

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