May 26th 2009
CSL, a maker of blood-plasma products, said the Federal Trade Commission recommended legal action to block the proposed $3.1 billion purchase of Talecris Bio- therapeutics Holdings.
CSL, which is based in Melbourne, Australia, met with members of the F.T.C. staff in Washington on May 22 to discuss the proposed deal, CSL said on Monday. During that meeting the company was told that the F.T.C. staff members recommended the
commissioners begin legal action in federal court to block the deal, on antitrust grounds, CSL said.
If successful, the takeover would propel CSL to the top spot in the $15 billion global market for medical treatments derived from blood plasma, ahead of Baxter International. The company is trying to capture increasing demand for treatments
for autoimmune diseases like hemophilia and multiple sclerosis.
“A vote and decision by the commissioners is imminent, likely to be announced by May 28 Washington time,” the company said on Monday in a statement to the Australian stock exchange.
Talecris, owned by the private equity groups Cerberus Partners and Ampersand Ventures, had revenue of about $1.4 billion in 2008. CSL had revenue 3.8 billion Australian dollars ($2.97 billion) in the year ended June 2008.