Successfully Represented Boehringer Ingelheim in $25 Billion Business Swap Transaction with Sanofi and Secured KFTC’s Merger Approval for Acquisition of Animal Health Business
Yulchon’s Antitrust Group successfully secured antitrust clearance from the Korea Fair Trade Commission(KFTC) for Boehringer Ingelheim International GmbH (BI) in its USD 25 billion business swap with another global pharmaceutical company, Sanofi, where BI acquired Sanofi’s animal health product business and transferred BI’s consumer healthcare business to Sanofi. Yulchon filed a merger notification and secured conditional approval from the KFTC in an efficient and expeditious manner, well ahead of many other important jurisdictions.
To resolve the KFTC’s competitive concerns in the markets for swine circovirus vaccines and oral non-steroidal anti-inflammatory drugs (NSAIDs) for pet dogs, Yulchon came up with specific corrective measures and persuaded the KFTC to accept them. It was a truly swift outcome to the full satisfaction of the client, made possible only through the Antitrust Group’s careful advance planning and flawless execution of intricately related action items at each stage of the KFTC’s approval process.
After successfully securing unconditional clearance for GSK’s business swap transaction with Novartis the year before, Yulchon once again demonstrated its expertise and competence in handling large global merger control matters by minimizing the scope and extent of the KFTC’s corrective measures and securing timely clearance of the transaction.