Spectrum Pharmaceuticals, Inc. (SPPI: Quote) and Allos Therapeutics, Inc. (ALTH: Quote) announced that Spectrum has provided an additional extension of the offer period in connection with its tender offer to purchase Allos for $1.82 per share in cash, without interest and less any applicable withholding taxes.
Spectrum and Allos said that the extension was made in order for the companies to continue cooperating with the Federal Trade Commission (FTC) in relation to the previously announced Request for Additional Information and Documentary Material that each party received on May 9, 2012 from the FTC under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the acquisition of Allos by Spectrum.
The offer, which was previously scheduled to expire on August 6, 2012, has been extended until 5:00 p.m., Eastern time, on August 20, 2012, unless extended for an additional period.
The depositary for the tender offer has advised Spectrum that, as of 5:00 p.m., Eastern time, on August 3, 2012, a total of approximately 62.52 million shares of Allos common stock, representing approximately 58.4% of the outstanding shares of Allos common stock, were validly tendered and not withdrawn, including approximately 165,987 shares subject to guaranteed delivery procedures.
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by RTT Staff Writer
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