7/8/2019, 3:40 PM (Source: TeleTrader)
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Roche once more delays Spark takeover deadline

European pharmaceutical giant Roche AG on Monday once more extended the deadline for the acquisition of United States-based firm Spark Therapeutics. In a filing submitted to the US Security and Exchange Commission (SEC), Roche's indicated it would extend the timeframe for the completion of the deal by the end f April 2020 and said that it will remain fully committed to its bid.

When the $4.3 billion takeover deal was announced, the companies expected the transaction to be finalized by the end of the second quarter, but Roche failed to secure all of the Spark Therapeutics shares.

In the meantime, United Kingdom Competition and Markets Authority (CMA) stated it has opened an investigation into the merger, while the US Federal Trade Commission (FTC) said it would need more information from both parties involved in order to reach the decision on the takeover.

Baha Breaking News (BBN) / MA