British watchdog clears AstraZeneca's $39 billion buyout of Alexion

Britain's competition regulator said on Wednesday it has cleared AstraZeneca's $39 billion buyout of U.S.-based Alexion after it decided not to initiate a broader probe into the deal following its initial assessment.

The Competition and Markets Authority began reviewing the planned takeover in May for whether it could reduce competition in Britain or other markets. Its clearance follows that from Europe earlier this month.