China OKs Baxter's $4B purchase of Gambro

|About: Baxter International Inc (BAX)|By:, SA News Editor

China's Ministry of Commerce has authorized Baxter's (BAX) $4B acquisition of Sweden's Gambro on the condition that Baxter divests its global continuous renal replacement therapy business, which accounts for 2% of its renal product sales.

The EU also demanded the sale of the unit when it approved the Gambro deal.

As part of the authorization in China, Baxter must end an outsourcing production deal in the country with Japan's Nipro by March 31, 2016.