News Round Up
Quite a bit of news today. Sprint Nextel announced today that the FTC granted early termination Friday of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act for its buy out of its affiliate Nextel Partners. Reuters article here and Dow Jones article here.
On a similar note, according to this Reuters article “BASF AG … said on Monday it had received approval from U.S. antitrust authorities to proceed with its hostile $4.9 billion bid for Engelhard Corp.”
The Triangle Business Journal (NC) reports that Targacept received “regulatory clearance from federal antitrust officials to move forward with a research and licensing agreement with … AstraZeneca.” The agreement involves studies of “TC-1734, a compound designed to help treat Alzheimer’s disease.”
Finally, the AP reports that:
Boston Scientific and Guidant have filed notification with federal authorities concerning their pending merger to comply with antitrust laws.
The companies notified both the Justice Department and the Federal Trade Commission to satisfy pre-merger requirements under federal law.
…
Part of the agreement calls for Boston Scientific to sell Guidant’s vascular intervention and endovascular businesses to Abbott Laboratories with the two companies sharing rights to Guidant’s line of drug-coated stents.
That move is expected to speed up antitrust approval.
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