Roche Extends Offer in $4.3-Billion Spark AcquisitionBy
Roche has extended its tender offer period relating to its pending $4.3-billion acquisition of Spark Therapeutics, a Philadelphia-based gene-therapy company, from November 25, 2019 to December 10, 2019. Roche had previously extended the offer period from October 30, 2019 to November 25, 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.
Citibank, the depository for the offer, has advised Roche that as of November 21, 2019, approximately 14.8% of Spark’s outstanding shares had been validly tendered and received pursuant to the offer.
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.