Pfizer’s $43 Billion Seagen Takeover Faces EU Investigation (1)

Pfizer Inc.’s proposed $43 billion takeover of Seagen Inc. will face an investigation from the European Union’s merger enforcers as the bloc continues to scrutinize large biotechnology deals.

Seagen disclosed in a regulatory filing late Friday that both firms will notify the deal to the European Commission, and the EU executive has accepted jurisdiction for investigating the proposed merger. The filings say that EU approval is a condition for the deal to close.

Pfizer and Seagen - both headquartered in the US - have the right under EU merger laws as part of a one-stop shop mechanism ...