Nastassia Samal
ImmunoGen (NASDAQ:IMGN) added ~6% premarket Thursday after announcing that the 30-day Hart-Scott-Rodino (HSR) waiting period in relation to its M&A agreement with AbbVie (NYSE:ABBV) expired without any action from antitrust regulators.
As a result, the company expects its $10B all-cash deal to be acquired by AbbVie (ABBV) to be complete next week.
In November, the Illinois-based pharma giant agreed to acquire ImmunoGen (IMGN) in a deal anticipated to close in mid-2024, subject to meeting a regulatory requirement called the Hart-Scott-Rodino Antitrust Improvements Act.
After the deal, both parties notified the Federal Trade Commission (FTC) and the U.S. Department of Justice (DoJ) about the impending merger on Jan. 7.
In compliance with the HSR Act, ImmunoGen (IMGN) said Thursday that the 30-day waiting period related to the deal expired on Feb. 7 without any action by the FTC, and the merger agreement with AbbVie (ABBV) is expected to close on or about Feb. 12.