Roche, Spark Therapeutics Update Closing Date for Their $4.3-Billion Merger
Roche and Spark Therapeutics have agreed to amend their agreement for their $4.3-billion merger to allow for a closing date through April 30, 2020 from January 31, 2020. The move follows an earlier request by the US Federal Trade Commission (FTC) for additional information in its review of the transaction. The companies had announced the deal earlier this year (February 2019).
Roche’s CEO Severin Schwan noted in a commication to Spark employees in a filing with the US Securities and Exchange Commission that it is still possible for the deal to close in 2019. The company says it “wants to ensure any potential future obstacles are identified and removed and it will continue to provide the regulatory agencies with the information they need to complete the outstanding reviews to close the acquisition as soon as possible.”
In June 2019, Roche and Spark received a request for additional information from the FTC regarding Roche’s pending $4.3-billion acquisition of Spark. Additionally, the UK Competition and Markets Authority opened an investigation to evaluate whether it had jurisdictional authority to review the transaction.