The Competition Commission has approved the proposed merger of IMS Health Holdings with Quintiles Transnational Holdings, a deal that would create an entity with a market capitalisation of over USD 17 billion.
In May, both companies announced that their respective boards of directors have approved a definitive merger agreement. The two entities would be combined in an all-stock merger of equals transaction.
In a tweet, Competition Commission of India (CCI) said it has approved “merger of IMS Health Holdings Inc with and into Quintiles Transnational Holdings Inc”.
IMS Health is a global IT services company that provides healthcare companies with solutions to measure and improve their performance.
Quintiles is a global provider of product development services and commercial outsourcing services to support healthcare companies in development of new therapies.
The merged company will be named Quintiles IMS Holdings, Inc.
The combined entity would have an equity market capitalisation of over USD 17 billion, as per a release issued in May.