Cubist Pharmaceuticals, Inc. Announces Expiration of Hart-Scott-Rodino Waiting Period for Acquisition of Trius Therapeutics

Published: Aug 30, 2013

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

LEXINGTON, Mass.--(BUSINESS WIRE)--Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) and Trius Therapeutics, Inc. (NASDAQ: TSRX) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR”) in connection with Cubist’s previously announced tender offer for all of the outstanding common stock of Trius. Expiration of the HSR waiting period satisfies one of the conditions to the closing of the tender offer. The closing of the transaction is also conditioned on the tender of a majority of the outstanding shares of Trius' common stock, on a fully diluted basis, and the satisfaction of other customary closing conditions. Cubist initiated a cash tender offer on August 13, 2013 to purchase all outstanding shares of Trius’ common stock. The tender offer will expire at 9:00 a.m., Eastern Time, on September 11, 2013, unless extended or terminated. Upon the successful closing of the tender offer, stockholders of Trius will receive $13.50 per share in cash, plus one Contingent Value Right, entitling the holder to receive an additional cash payment of up to $2.00 for each share they tender if certain commercial sales milestones are achieved.

Help employers find you! Check out all the jobs and post your resume.

Back to news