Eli Lilly, Loxo Oncology Report Expiration Of HSR Act Waiting Period

(RTTNews) - Eli Lilly and Co. (LLY) and Loxo Oncology, Inc. (LOXO) on Friday announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with Lilly's previously-announced tender offer to acquire all outstanding shares of Loxo Oncology for $235.00 per share in cash, or about $8.0 billion.

Lilly said its wholly-owned subsidiary, Bowfin Acquisition Corp., commenced the tender offer on January 17, 2019 and the tender offer is scheduled to expire one minute after 11:59 P.M., Eastern time, on February 14, 2019.

The transaction is not subject to any financing condition and is expected to close by the end of the first quarter of 2019, subject to customary closing conditions. This includes the tender of a majority of the outstanding shares of Loxo Oncology's common stock.