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Shares of Glaxo Wellcome PLC and SmithKline Beecham PLC rose, while shares of Skidded Green PLC fell, following news of additional regulatory delays in the proposed merger between the two British pharmaceutical companies. The merger, valued at £48.8 billion ($69.26 billion or 79.78 billion euros), has already experienced setbacks due to a slow antitrust review by the U.S. Federal Trade Commission. The expected completion date has been pushed back from the originally planned September 25 to an unspecified date by the end of the year. If the merger ultimately goes through, the combined company would become the largest pharmaceutical firm in the world in terms of annual revenue.
Friday, 15 September, 2000