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Case study: Grifols/Talecris acquisition

George Rozanski
December 2011
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Bates White provided analysis on behalf of Grifols in connection with its acquisition of Talecris, two companies involved in the manufacture and sale of biologic therapies derived from human plasma. As part of the analysis, the Bates White team evaluated possible coordinated effects concerns related to the merger and assessed the merger specificity of claimed efficiencies in analysis presented to FTC. The FTC just a year earlier had challenged a proposed merger in the same industry. The FTC approved the Grifols/Talecris transaction after Grifols agreed to a consent decree that facilitated entry.