Courtesy of Benzinga
Roche Holding (OTCQX: RHHBY) has received approval from the Federal Trade Commission and Britain’s Competition and Markets Authority to acquire Spark Therapeutics, Inc. (NASDAQ: ONCE), the companies announced Tuesday.
The regulatory authorities concluded the deal would not hurt competition in hemophilia A treatment.
Reuters reports the takeover is estimated at $4.3 billion; Roche has agreed to pay more than twice the U.S. company’s closing price on Feb. 22. As of Tuesday, Roche holds more than 60% of Spark shares.
Roche said it intends to complete the acquisition of Spark Tuesday through a merger of 022019 Merger Subsidiary, Inc.
Once the merger has been completed, Spark will become a wholly owned subsidiary of Roche, with Spark shares ceasing to trade on the Nasdaq exchange.
Roche Holding shares were trading down 0.1% at $38.57 in Tuesday’s premarket session. The stock has a 52-week high of $38.87 and a 52-week low of $25.10.
Spark Therapeutics shares were trading up 0.8% at $114.48 in the premarket session. The stock has a 52-week high of $114.20 and a 52-week low of $34.53.
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