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Akorn, Inc. (AKN) Receives FTC Clearance For Hi-Tech Pharmacal (HITK) Acquisition


4/15/2014 9:42:16 AM

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LAKE FOREST, Ill.--(BUSINESS WIRE)--Akorn, Inc. (NASDAQ: AKRX) today announced that the U.S. Federal Trade Commission (FTC) has voted to approve Akorn’s acquisition of Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK). The unanimous vote in support of the transactions follows Akorn’s agreement to a proposed consent order requiring divestiture of certain products as a condition to obtaining FTC approval. The parties have now obtained all regulatory approvals required to consummate the acquisition, and intend to close by the end of this week.

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