MorphoSys Bags US Antitrust Clearance of Proposed Acquisition by Novartis Under HSR Act
Portfolio Pulse from Benzinga Newsdesk
MorphoSys AG has received U.S. antitrust clearance for its proposed acquisition by Novartis AG, following the clearance in Germany and Austria, completing all mandatory regulatory approvals. Novartis plans to submit a takeover offer for all MorphoSys shares at €68.00 per share, totaling €2.7 billion, with the offer document expected in April 2024. The acquisition is anticipated to close in the first half of 2024, pending a minimum acceptance of 65% of MorphoSys' share capital.
March 22, 2024 | 7:04 am
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MorphoSys AG received U.S. antitrust clearance for its acquisition by Novartis, with all regulatory approvals now in place. The takeover offer is set at €68.00 per share, with a total value of €2.7 billion.
The receipt of U.S. antitrust clearance removes a significant regulatory hurdle, making the acquisition by Novartis more likely to proceed. This news is likely to be viewed positively by investors, as it confirms the progress towards the completion of the acquisition, potentially increasing MorphoSys' stock price in the short term.
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