RXDX - Prometheus Biosciences gains after HSR waiting for sale to Merck expires

2023-05-23 08:55:42 ET

• Prometheus Biosciences ( NASDAQ: RXDX ) rose 2.8% in premarket trading after the HSR waiting period for the company's planned $11 billion sale to Merck ( NYSE: MRK ) expired.
• The HSR waiting period expired on Monday, according to a proxy filing on Tuesday.
• The development is an important one for the $200 a share sale of Prometheus ( RXDX ), as some investors became concerned the deal could receive a more in-depth probe by U.S. antitrust regulators after the Federal Trade Commission sued to block Amgen's ( AMGN ) $28 billion planned purchase of Horizon Therapeutics ( HZNP ) last week.
• Merck ( MRK ) agreed to acquire Prometheu ( RXDX ), a clinical-stage biotech focused on immunology, for $200.00 per share in cash, i ndicating a total equity value of nearly $10.8 billion, last month.

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