SOLY - Abbvie gets FTC `second request' in planned purchase of Soliton

Abbvie (NYSE:ABBV) said that its received a request for additional information from the U.S. Federal Trade Commission in regard to its planned acquisition of Soliton Inc. (NASDAQ:SOLY) Abbvie (ABBV) and Soliton (SOLY) received a so called "second request" from the antitrust agency on Friday, according to an 8-K filing. The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after the company and AbbVie (ABBV) have certified substantial compliance with the second request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC. The companies continue to expect to complete the transaction in the second half of this year. In May, Soliton (SOLY) rallies after Abbvie (ABBV) agrees to purchase the company for $550M million.

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Abbvie gets FTC `second request' in planned purchase of Soliton