The offer which would expire by 3 September 2019 has been extended until 1 October 2019, keeping all terms and conditions of the offer unchanged during the extended period
Image: The offer extension is aimed at providing additional time for the US Federal Trade Commission (FTC) and the UK Competition and Markets Authority (CMA). Photo: Courtesy of Hoffmann-La Roche Ltd.
Roche has announced the extension of the offering period of its previously announced tender offer to purchase all of the outstanding shares of common stock of Spark Therapeutics for a total of approximately $4.3bn (£3.5bn).
The transaction price is set as $114.50 per Share, and is paid in cash, without interest subject to any withholding taxes required by applicable law.
Under the agreement and plan of merger, dated 22 February 2019, the offer which would expire by 3 September 2019 has been extended until 1 October 2019, keeping all terms and conditions of the offer unchanged during the extended period.
The offer extension is aimed at providing additional time for the US Federal Trade Commission (FTC) and the UK Competition and Markets Authority (CMA) to complete previously disclosed review of the Spark’s pending acquisition.
Roche said that both the companies are committed to the transaction and are working cooperatively and expeditiously with the FTC and the CMA.
The completion of the tender offer is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and there being validly tendered and received, and not validly withdrawn, a majority of the outstanding Spark Shares.
MacKenzie Partners served as information agent for the offer
Established in 2013, Spark Therapeutics is a fully integrated company engaged in discovery, development and delivery of gene therapies for genetic diseases including blindness, haemophilia, neurodegenerative diseases and lysosomal storage disorders.
Roche is an international pharmaceuticals company focused on differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and diseases of the central nervous system, and in vitro diagnostics, tissue-based cancer diagnostics, and diabetes management.
Founded in 1896, the company is engaged in searching ways to prevent, diagnose and treat diseases to improve patient access to medical innovations.
Roche claims that more than 30 medicines it has developed are included in the World Health Organization Model Lists of Essential Medicines, comprising life-saving antibiotics, antimalarials and cancer medicines.