Glaxo and SmithKline merger faces possible delay

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Glaxo Wellcome and SmithKline Beecham face the possibility of a second delay to their proposed merger if they do not receive final clearance from the...

Glaxo Wellcome and SmithKline Beecham face the possibility of a second delay to their proposed merger if they do not receive final clearance from the US Federal Trade Commission (FTC) within the next 10 days, the Financial Times reported today. The pharmaceutical companies plan to complete the merger, which will create a group with a market capitalisation of £130bn ($188.5bn), on September 25 following formal approval by the High Court on September 21. In order to meet that schedule, they would need to have FTC approval by about September 13 to give them time to invite shareholders to the High Court hearing, the paper continued.

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