British drug major AstraZeneca Plc. (AZN.L,AZN) said Friday that it has received a clearance from the U.S. Federal Trade Commission for its proposed acquisition of Alexion Pharmaceuticals Inc (ALXN). It follows the conclusion of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
The clearance follows competition clearances in Canada, Brazil, Russia and other countries globally. Additional global regulatory clearances are pending, including but not limited to the UK, EU and Japan.
The acquisition remains expected to close in the third-quarter 2021, subject to receipt of additional global regulatory clearances and approval by shareholders of both companies with shareholder voting anticipated on 11 May 2021.
In December 2020, AstraZeneca agreed to buy Alexion Pharmaceuticals for $175 per share in cash and stock, valuing the Boston-based company at $39 billion.
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