HZNP - Amgen wins Irish approval for planned Horizon Therapeutics purchase

2023-10-05 07:45:27 ET

Amgen ( NASDAQ: AMGN ) won approval from the High Court of Ireland for its planned $28 billion purchase of Horizon Therapeutics ( NASDAQ: HZNP ).

Assuming that a copy of the court order is processed and made available to Horizon ( HZNP ) by no later than Friday morning (Irish time), the scheme is expected to become effective on Friday, Horizon said in an 8-K filing on Thursday.

The Irish court's approval is the last remaining obstacle for the Horizon/Amgen deal to close.

Horizon ( HZNP ) stock is scheduled to be halted in the after-hours session on Thursday if the Irish High Court sanctions the scheme of arrangement at the court hearing, according to the delisting notice o n Monday. If the court issues and makes available to Horizon an order sanctioning the scheme of arrangement no later than Friday morning (Irish time), the deal is expected to close prior to the market opening on Friday.

The Federal Trade Commission last month settled with Amgen ( AMGN ) and Horizon ( HZNP ) to allow the combination to move forward. The companies said they expect to be able to close the deal in the early fourth quarter.

More on Amgen, Horizon Therapeutics,

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• Amgen: Not An Investment Mistake, But It Was Better Before
• Amgen stock dips after FDA reveals concerns about Lumakras study (update)
• Horizon Therapeutics ticks higher amid Nasdaq delisting notice for sale to Amgen

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