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|Articles|June 17, 2019
FTC Requests Info for Roche’s $4.3-Billion Acquisition of Spark Therapeutics
Author(s)BioPharm International Editors
The US Federal Trade Commission (FTC) has requested additional information from Roche and Spark Therapeutics regarding Roche’s pending $4.3-billion acquisition of Spark.
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On June 10, 2019, Roche and Spark Therapeutics, a Philadelphia, PA-based company focused on gene therapies, announced that they received a request for additional information and a request for documentary material (second request) from the US Federal Trade Commission (FTC) regarding FTC’s review of Roche’s pending $4.3-billion acquisition of Spark. Also, the UK Competition and Markets Authority (CMA) opened an investigation to obtain further information in relation to the proposed acquisition.
As a result of the second request, Roche has extended the offering period of its
CMA’s separate investigation will determine whether the department considers that it has jurisdiction over the acquisition and if so, whether CMA considers that the acquisition may be expected to result in a substantial lessening of competition in the UK such as to warrant a more detailed, Phase II review. Pending the outcome of its investigation, the CMA has issued an interim enforcement order that would become effective upon closing of the transaction and would require Roche to hold separate the Spark business. The companies are working cooperatively with the CMA and will continue to do so, according to Roche.
Closing of the tender offer is dependent on customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and tendering and receiving a majority of the outstanding Spark shares.
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