07.09.19

Roche, Spark Push Back Takeover Deadline in $4.3 Billion Deal

Source: Reuters

Roche and Spark Therapeutics agreed to extend the deadline for the Swiss drugmaker’s $4.3 billion takeover bid for the U.S. gene therapy specialist, Roche said, adding it remains “fully committed” to a deal it sees closing this year, according to a Reuters report.

The new deadline for both companies to extend the merger agreement is now April 30, 2020, rather than Jan. 31, 2020, Roche said in a U.S. regulatory filing on Monday, saying the change provides “additional time to clear the transaction.”

“While we still expect this transaction to close in 2019, we want to ensure that we proactively identify and remove any potential future obstacles to achieving this outcome.”

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