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Dyax Corp discloses early termination of Hart-Scott-Rodino waiting period on 2 December 2015.

M2 PHARMA-December 3, 2015-Dyax Corp discloses early termination of Hart-Scott-Rodino waiting period on 2 December 2015


Biopharmaceutical company Dyax (NasdaqGM:DYAX) reported on Wednesday the termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, for its planned acquisition by Shire Pharmaceuticals International (SPI), an indirect wholly-owned subsidiary of Shire.

The company said the Hart-Scott-Rodino Waiting Period was terminated by the United States Federal Trade Commission (FTC) on 2 December 2015.

Under the terms of a definitive merger agreement, SPI will acquire Dyax for USD37.30 in cash per Dyax share for aggregate upfront consideration of about USD5.9bn.

In conjunction, Dyax shareholders may receive additional value through a non-tradable contingent value right that will pay USD4.00 in cash per Dyax share upon approval of DX-2930 in hereditary angioedema (HAE), representing a potential additional USD646m in aggregate contingent consideration.

This merger remains subject to certain other closing conditions, including adoption of the merger agreement by Dyax's stockholders.

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Publication:M2 Pharma
Date:Dec 3, 2015
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