HZNP - Amgen agrees not to close Horizon deal before Sept. 15 in court agreement with FTC
2023-05-18 09:25:44 ET
- Amgen ( NASDAQ: AMGN ) agreed not close its $28 billion purchase of Horizon Therapeutics ( NASDAQ: HZNP ) before Sept. 15 or the second business day after the court rules on the Federal Trade Commissions' request to block the deal.
- Horizon ( HZNP ) expects that its planned sale to Amgen ( AMGN ) can close by the end of Q3 or early in Q4 if the FTC's request for a preliminary injunction is denied by the federal court, according to an 8-K filing.
- A case management conference on the FTC's suit to block the transaction is set for May 23.
- Shares of Horizon Therapeutics ( HZNP ) gained 4.2% on Wednesday, reversing some of the 16% decline on Tuesday after investors saw the actual FTC complaint, which had originally been filed under seal, and there was some speculation about a potential settlement.
For further details see:
Amgen agrees not to close Horizon deal before Sept. 15 in court agreement with FTC