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Spectrum Pharmaceuticals and Allos Therapeutics Announce Additional Extension of Tender Offer Period for Shares of Allos Therapeutics

Spectrum Pharmaceuticals (NASDAQ: SPPI) and Allos Therapeutics (NASDAQ: ALTH) announced Friday that Spectrum has provided an additional extension of the offer period in connection with its tender offer to purchase all of the outstanding shares of common stock of Allos for $1.82 per share in cash, without interest and less any applicable withholding taxes. The extension was made in order for Spectrum and Allos to continue cooperating with the Federal Trade Commission 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 at 5:00 p.m., Eastern time, on Monday, July 23, 2012, has been extended until 5:00 p.m., Eastern time, on Monday, August 6, 2012, unless extended for an additional period. All terms and conditions of the tender offer shall remain unchanged during the extended period.

The depositary for the tender offer has advised Spectrum that, as of 5:00 p.m., Eastern time, on July 20, 2012, a total of approximately 65,241,335 shares of Allos common stock, representing approximately 61.0% of the outstanding shares of Allos common stock, were validly tendered and not withdrawn.

Posted-In: News M&A After-Hours Center

 

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