12/17/2019, 7:48 AM (Source: TeleTrader)
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Roche to acquire Spark Therapeutics for $4.3B

Swiss healthcare company Roche announced it intends to complete the purchase of Spark Therapeutics by the end of the day on Tuesday without a vote or meeting of the latter's shareholders after it obtained approval from the Federal Trade Commission on Monday. Following the acquisition, Spark will become a wholly-owned subsidiary of Roche and its shares will no longer be traded on the NASDAQ Stock Exchange.

In a statement, the Swiss drugmaker said it would buy approximately 60.4% of Spark's common stock at a price of $114.5 per share in cash, or a total of $4.3 billion. The agreed share price represents a premium of 122% to the closing price of Spark on February 22 when the Swiss company first offered to make the purchase.

The deal was finally approved by the FTC yesterday, after months of scrutiny into the acquisition Roche had proposed earlier this year.

Breaking the News / GG