Bayer gets US FTC clearance acquisition Conceptus

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.

© WOC News

Find the latest chemical industry events, chemical international exhibition, chemical fairs, trade shows, chemical exhibition at https://www.worldofchemicals.com/media/event/index.html

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Toyo bags Petrobras’ hydrogen facilities construction contract in Brazil

RIO DE JANEIRO, BRAZIL: TOYO-SETAL Empreendimentos Ltda (TSE), a Brazilian joint venture capitalized by Toyo Engineering Corporation, has been awarded ...

Read more
Eastman opens application facility in Liverpool, UK

LIVERPOOL, UK: Eastman Company UK Limited opened a dedicated large-scale application facility at its European Technical Centre, located in Liverpool i ...

Read more
Air Products to build new plant in Antofagasta, Chile

LEHIGH VALLEY, US: Air Products announced that INDURA, its South American joint venture, will build a new plant in Antofagasta, Chile, as well as expa ...

Read more
A Schulman to cut jobs in Europe, the Middle East and Africa

AKRON, US: A Schulman Inc said it would cut an unspecified number of jobs in its Europe, the Middle East and Africa operating region, citing poor econ ...

Read more
Development of formic acid fuel cells

UMEA, SWEDEN: With the technology of today it is possible to use environmental friendly formic acid in fuel cell powering mobile phone or laptop. Flor ...

Read more
Technip bags coke calcination unit contract in Abu Dhabi, UAE

PARIS, FRANCE/ABU DHABI, UAE: Technip was awarded a significant contract comprising technology, engineering services and supply of core equipment for ...

Read more