Saturday, August 23, 2014
Inquirer Daily News

European regulators extend review of Teva-Cephalon deal

The European Commission now has until Oct. 13 to complete its review of Teva's acquisition of Cephalon.

European regulators extend review of Teva-Cephalon deal

It may be another rough ride in the markets if widespread losses in European stock markets wash over the Atlantic again.

Once more, the worry is Greece's struggles with its sovereign debt and how badly European banks may be hurt by a possible default.

The European Commission on Friday also said it was extending its review of Teva Pharmaceutical Industries' pending acquisition of Cephalon, the Frazer-based biopharmaceutical company. Bloomberg News reports the new deadline is Oct. 13 and that Teva -- which has North American headquarters in North Wales, Pa. -- had offered "remedies to allay possible competition concerns." No word on what those remedies may be.

Among the crumbs of local news circulating early is that the Comcast board loses one member and gains one.

S. Decker Anstrom resigned after 10 years on the cable TV and Internet behemoth's board. Anstrom --  the former No. 2 exec at Landmark Communications -- did so, the company says in a regulatory filing, in order to "satisfy other professional commitments."

Jumping aboard the 12-member board is Johnathan Rodgers, who'd been CEO of the TV One cable channel for 7-1/2 years until retiring in July.

Mike Armstrong Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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