UK company Shire Pharmaceuticals has said that its proposed $3.5bn (€3.9bn) merger with Canadian firm BioChem will be delayed.

A review period for the merger ends on March 31, but the Canadian minister of industry said that he would not be able to reach a conclusion by that time. Merrill Lynch is financial adviser to BioChem as well as being joint broker to Shire. Deutsche Bank and Bear Stearns are advising Shire.

News in brief: Shire's Canadian merger delayed

Deutsche Bank

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