MorphoSys Gets U.S. Antitrust Approval For Constellation Pharma Deal

MorphoSys AG (MOR) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, for its tender offer for Constellation Pharmaceuticals Inc. (CNST).

The expiration of the HSR waiting period satisfies one of the conditions to the tender offer, which is scheduled to expire on July 14, 2021.

The tender offer is subject to various other conditions including a minimum tender of at least a majority of outstanding Constellation shares and other customary conditions.

The transaction is expected to close in the third quarter of 2021.

Last month, MorphoSys agreed to buy Constellation Pharmaceuticals for $1.7 billion or $34.00 per share in cash, a 68% premium to Constellation's closing price as on June 1.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Meta Platforms Inc., the parent of Facebook, Instagram, and WhatsApp, said it is launching more options on WhatsApp to control their messages and how long they stick around, with default disappearing messages and multiple durations. The latest features are expected to bring more control and privacy on the popular messaging app. Delivery services company DoorDash has introduced ultra-fast grocery deliveries with DashMart in Chelsea, New York City. The company said it aims to deliver in 10-15 minutes and plans to expand its new service in select DoorDash grocery and convenience partners over the next year. With over 2,000 items, DashMart offers a wide assortment of fresh and frozen grocery staples, snacks, household goods, and local products. Ontario, Canada-based Erie Meat Products Ltd. is recalling approximately 1,224 pounds of fully cooked chicken bologna products, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The chicken bologna products were imported and distributed into the United States without the benefit of FSIS import reinspection.
Follow RTT