MorphoSys Receives U.S. Antitrust Approval For Acquisition By Novartis

(RTTNews) - MorphoSys AG (MOR) announced the receipt of U.S. antitrust clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the proposed acquisition of the company by Novartis AG (NVS), following the expiration of the HSR Act waiting period.

MorphoSys previously also announced the receipt of antitrust clearance in Germany and Austria. As a result, the proposed acquisition of MorphoSys by Novartis has now received all mandatory regulatory approvals.

On February 5, 2024, MorphoSys announced the intention of Novartis to submit a voluntary public takeover offer for all outstanding MorphoSys no-par value bearer shares at an offer price of EUR 68.00 per share in cash, representing a total equity value of 2.7 billion euros. The Takeover offer will require a minimum acceptance threshold of 65% of MorphoSys' share capital, among other customary closing conditions.

MorphoSys and Novartis continue to expect the closing of the Takeover Offer to take place in the first half of 2024.