Procter & Gamble Overseas India B.V. entered into an agreement to acquire consumer health business from MERCK Kommanditgesellschaft auf Aktien (DB:MRK) on April 18, 2018. The transaction involves acquisition of shares in a number of legal entities as well as various asset sales within the consumer health business. The combined value of transactions is €3.4 billion. As part of the agreement, Procter & Gamble had also offered to buy the consumer health business of Merck Specialities. In a related transaction, Procter & Gamble will acquire MERCK's majority shareholding in Merck Ltd. The transaction is subject to regulatory approvals, EU approval and certain other customary closing conditions. As of July 23, 2018, Procter & Gamble filed for EU approval. As of August 7, 2018, Competition Commission of India has approved the deal. As of August 28, 2018, the deal has been approved by the EU Commission. As of December 1, 2018, After deducting taxes and transaction related effects, Merck will primarily use the net cash proceeds of approximately €2.7 billion to further reduce its financial debt. The transaction is expected to close by June 2019. JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor to MERCK. Jennifer Bethlehem, Jochen Dieselhorst, Lars Meyer, Andrew Murphy, René Döring, Roderick Carlton, Christian Ruoff, Michael Ramb, Marcel Kaufman, Rikin Morjaria, Lisa Eger, Ayk Meretzki, Mareike Schmidt, Wilke Ulrich, Philip Knoll, Philipp Dohnke, Lutz Drallé Fabian Behrens, Jan-Michael Klett, Makayla Knott and Johannes Kater of Freshfields Bruckhaus Deringer LLP acted as legal advisors to MERCK. Stephan Goetz, Ulrich Kinzel, Günther Schermer, Adelin Trusculescu, Philipp Jaeck, Steffen Prochazka and Patrick Bobak of goetzpartners Corporate Finance GmbH acted as financial advisors to the Board of Merck. Ansgar Rempp, Martin Schulz, Markus Weber, Christian Fulda, Christian Krebs, Christian Trenkel, Klaus Herkenroth, Markus Kappenhagen, Thomas Stoll, Markus Hamann, Markus Ledwina, Markus Fisch, Hao Chu, Martin Kemmerer, Oliver Staatz, Dennis Bree, Andrew M. Levine and Michael P. Considine of Jones Day acted as legal advisors to The Procter & Gamble. Astrid Jatzkowski, Annette Kamps and Sonja Behrens of PricewaterhouseCoopers acted as accountants for MERCK. Oliver Rosenberg, Kirsten Placke, Daniel Drissen and Lennart Geffken of Linklaters acted as legal advisors for The Procter & Gamble. Procter & Gamble Overseas India B.V. completed the acquisition of consumer health business from MERCK Kommanditgesellschaft auf Aktien (DB:MRK) on November 30, 2018. Former Merck KGaA, Darmstadt, Germany, Consumer Health President & Chief Executive Officer, Uta Kemmerich-Keil, will be joining P&G as leader of P&G Personal Healthcare International. The transaction has received all relevant regulatory approvals and other conditions have been fulfilled.