Roche Holding RHHBY has received approval from the Federal Trade Commission and Britain’s Competition and Markets Authority to acquire Spark Therapeutics, Inc. 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.
Related Links:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
