HSR Waiting Period Expires for Cubist, Optimer Deal
Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) and Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”) in connection with the previously announced merger agreement under which Cubist will acquire all of the outstanding common stock of Optimer.
Expiration of the HSR waiting period satisfies one of the conditions to the closing of the merger. The proposed merger remains subject to approval by the stockholders of Optimer, as well as other customary closing conditions.
Upon closing of the merger, each holder of Optimer common stock will receive $10.75 per share in cash, plus one Contingent Value Right, entitling the holder to receive an additional one-time cash payment of up to $5.00 for each share they own if certain net sales of DIFICID® (fidaxomicin) in the United States and Canada are achieved.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.