Celgene Gets Antitrust Clearance For Receptos Acquisition - Quick Facts

(RTTNews) - Biopharmaceutical company Celgene Corp. (CELG) announced that its has received antitrust clearance for its wholly-owned subsidiary, Strix Corp., to acquire all issued and outstanding shares of common stock of Receptos, Inc. (RCPT) at a price of $232.00 per share.

The applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 or HSR, with respect to the tender offer expired at 11:59 p.m. EDT on August 10, 2015.

The expiration of the HSR waiting period satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions. Celgene expects the transaction to close in the third quarter of 2015.

The tender offer is scheduled to expire at midnight EDT on Monday, August 24, 2015, unless extended.