Amsterdam, the Netherlands, October 11, 2007 - Schering-Plough
Corporation has received approval from the European Commission for
its planned acquisition of Organon BioSciences N.V. from Akzo Nobel
In connection with the clearance, Schering-Plough has agreed to
divest certain animal health products in Europe. The divestitures are
not material to the company's financial results. No divestitures of
human health products are required.
The EUR 11 billion deal was announced in March and Schering-Plough
still needs to secure certain regulatory approvals, including
clearance from the U.S. Federal Trade Commission (FTC), before the
transaction can be finalized.
Both Akzo Nobel and Schering-Plough continue to expect the deal to be
completed by the end of the year.
- - -
Note to editors
Akzo Nobel is a Fortune Global 500 company and is listed on Euronext
Amsterdam. It is also the Chemicals Industry leader on the Dow Jones
Sustainability Indexes and Akzo Nobel is included on the FTSE4Good
Index. Based in the Netherlands, we are a multicultural organization
serving customers throughout the world with coatings, chemicals and
human and animal healthcare products. We employ around 62,000 people
and conduct our activities in these four segments, with operating
subsidiaries in more than 80 countries. Consolidated revenues for
2006 totaled EUR 13.7 billion. The financial results for the third
quarter will be published on October, 23, 2007.
Not for publication - for more information
Akzo Nobel N.V.
Corporate Media Relations, tel. +31 20 502 7833
Contact: Heleen van de Lustgraaf