Roche Extends Offer in $4.3-Billion Spark Acquisition AgainBy
Roche has again extended its tender offer period relating to its $4.3-billion acquisition of Spark Therapeutics, a Philadelphia-based gene-therapy company, from December 10, 2019 to December 16, 2019. Roche had previously extended the tender offer from November 25, 2019 to December 10, 2019. Roche had announced the acquisition earlier this year (February 2019).
The offer was extended to provide additional time for the US Federal Trade Commission (FTC) and UK Competition and Markets Authority (CMA) to complete their previously disclosed reviews of Roche’s pending acquisition of Spark. The companies say they remain committed to the transaction and are working with the FTC and CMA. CMA’s Phase 1 review period is scheduled to end on December 16, 2019.
Closing of the tender offer is conditioned upon customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and a tendering of a majority of the outstanding Spark shares.