Brief: UK competition watchdog blocks Cochlear/Demant deal

Cochlear

22/06/2023 07:03

June 22 (Reuters) - Cochlear Ltd  COH.AX :
    * UK'S COMPETITION AND MARKETS AUTHORITY SAYS PARTIALLY
PREVENTS
SALE OF HEARING IMPLANT BUSINESS AFTER CONCLUDING PATIENTS
POTENTIALLY WORSE OFF
    * UK'S COMPETITION AND MARKETS AUTHORITY SAYS PROPOSED
MERGER OF
COCHLEAR LIMITED (COCHLEAR) AND OTICON MEDICAL, HEARING IMPLANTS
DIVISION OF DEMANT A/S (DEMANT), WAS REFERRED FOR AN IN-DEPTH
PHASE 2 INVESTIGATION
    * UK'S COMPETITION AND MARKETS AUTHORITY SAYS FINAL REPORT
ON
MERGER CONCLUDED THAT A DEAL WOULD ELIMINATE A MAJOR BCS
COMPETITOR FROM MARKET, LEAVING MERGED BUSINESSES HOLDING A
MARKET SHARE OF MORE THAN 90 PER CENT.
    * UK'S COMPETITION AND MARKETS AUTHORITY SAYS DEMANT WILL
INSTEAD
RETAIN ITS BCS BUSINESS, WHICH IT WILL CONTINUE TO RUN IN
COMPETITION WITH COCHLEAR.

Source text for Eikon:  ID:nRSV5252Da 
Further company coverage:  COH.AX 

 (Reporting By Sinead Cruise)
 ((sinead.cruise@thomsonreuters.com;))