P&G clears hurdle to $4B acquisition

Procter & Gamble Co. today got the greenlight from the European Commission to acquire the consumer health care brands of Merck KGaA of Germany, a $4 billion deal that required a review under the European Union’s merger regulation. The Cincinnati-based maker of consumer goods such as Prilosec OTC heartburn reliever (NYSE: PG) intends to scale up the company’s over-the-counter health care business, which accounts for $2 billion in revenue. “The commission concluded that the proposed transaction…