- The U.K. competition regulator is mulling over AstraZeneca Plc’s (NASDAQ: AZN) $39 billion takeover taker of Alexion Pharmaceuticals Inc (NASDAQ: ALXN) over competition concern.
- The U.K.’s Competition and Markets Authority is starting the first phase of the probe today and said it should wrap it up by 21 July, deciding at that point whether to start a second, more in-depth appraisal of the deal.
- Comments on the deal can be submitted up to 3 June.
- “The commencement of the UK CMA’s formal review is another important step towards the closing of the proposed acquisition, which we continue to expect will be in the third quarter of 2021,” a representative for AstraZeneca said.
- The U.S. Federal Trade Commission has already given the takeover the go-ahead in mid-April.
- Earlier this month, both Alexion and AstraZeneca’s shareholders voted in favor of the deal.
- AstraZeneca agreed to a deal for Alexion in December 2020 for $39 billion to boost its work on immunology.
- The deal will see Alexion shareholders paid $175/share, including $60 in cash and 2.1243 American depositary shares, which each represent one-half of one ordinary AstraZeneca share.
- Price Action: AZN shares are up 0.05% at $57.50 during the premarket session on the last check Tuesday. ALXN shares closed at $178.04 on Monday.
12 Health Care Stocks Moving In Thursday’s After-Market Session
Gainers
DiaMedica Therapeutics (NASDAQ:DMAC) shares increased by 6.17% to $9.98 during Thursday's after-market session. DiaMedica Therapeutics's trading volume hit 12.0K shares by close, accounting for 8.38% of its average volume over the last 100 days. The company's market cap stands at $187.3 million.
