Article
Celgene Receives Antitrust Clearance for Receptos Acquisition
Celgene Corporation today announced that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") with respect to the previously announced tender offer.
PRESS RELEASE
SUMMIT, N.J.--(BUSINESS WIRE)-- Celgene Corporation (NASDAQ:CELG) today announced that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") with respect to the previously announced tender offer by its wholly-owned subsidiary, Strix Corporation, for all issued and outstanding shares of common stock of Receptos, Inc. (NASDAQ:RCPT) at a price of $232.00 per share, net to the seller in cash, without interest and less required withholding taxes and subsequent merger of Strix Corporation with Receptos expired at 11:59 p.m. EDT on August 10, 2015. The expiration of the HSR waiting period satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions. Celgene expects the transaction to close in the third quarter of 2015.
The tender offer is scheduled to expire at midnight EDT on Monday, August 24, 2015, unless extended.
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