By Stephen Nakrosis 
 

The U.S. Federal Trade Commission on Thursday said Danaher Corp. has agreed to divest some assets as a condition to its proposed acquisition of GE Biopharma.

The FTC said the $21.4 billion deal would violate U.S. antitrust laws by lessening competition "in highly concentrated product markets for 10 products that companies use to manufacture biopharmaceutical drugs."

Under the terms of the deal, the FTC said, Danaher will "divest all rights and assets to research, develop, manufacture, market, and sell these products" to Germany's Sartorius AG.

In February of last year, General Electric Co. said it would sell the GE Biopharma business to Danaher.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

March 19, 2020 18:41 ET (22:41 GMT)

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