UDG Healthcare disposal clears regulatory hurdle

UDG Healthcare's proposed sale of two of its businesses to McKesson Corporation has made it over a significant regulatory hurdle, the company revealed on Friday.

The FTSE 250 company had announced details of the sale of United Drug Supply and MASTA on 18 September and 13 October 2015, respectively.

On Friday, UDG's board said the European Commission had confirmed competition clearance for the businesses based in the Republic of Ireland.

However, the EC had referred the UK aspects of the proposed transaction to the Competition and Markets Authority for their review.

"Notwithstanding the referral to the Competition and Markets Authority, the clearance from the European Commission enables the transaction to complete in full and this is now expected to occur on 1 April," UDG's board confirmed in a statement.