Abbott's Acquisition of Kos Pharmaceuticals, Inc. Clears Antitrust Review
Abbott announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 applicable to Abbott's offer to purchase all of the outstanding shares of common stock of Kos Pharmaceuticals, Inc.
The FTC's action satisfies one of the conditions necessary for the consummation of the pending acquisition. The tender offer is scheduled to expire at 12:00 midnight, New York City time, on Tuesday, December 12, 2006, unless the tender offer is extended. Consummation of the tender offer remains subject to other customary closing conditions, including satisfaction of the minimum tender condition under the Agreement and Plan of Merger entered into by Abbott and Kos on November 5, 2006.
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