Bayer gets US FTC clearance acquisition Conceptus
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Bayer gets US FTC clearance for acquisition of Conceptus

6:20 AM, 30th May 2013
Bayer gets US FTC clearance for acquisition of Conceptus

LEVERKUSEN, GERMANY: Antitrust clearance from the US Federal Trade Commission (FTC) was obtained with respect to Bayer’s acquisition of Conceptus Inc. The FTC raised no objection to the transaction within the relevant waiting period under US antitrust law, which expired on 28 May 2013. The antitrust clearance marks an important step toward Bayer’s intended acquisition of Conceptus. The transaction remains conditioned upon a minimum tender of at least a majority of the outstanding shares of Conceptus.

On 7 May 2013, Evelyn Acquisition Company, a subsidiary established by Bayer HealthCare LLC, Tarrytown, New York, US for the purpose of the acquisition, commenced a cash tender offer for all the shares of Conceptus at a price of $31 per share. The total value of the transaction amounts to approximately $1.1 billion. The board of directors of Conceptus has unanimously recommended that its stockholders accept the offer.

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