Biotech Values

[DewDiligence]

XLRN—Until now, there was some question as to whether the FTC would (again) need more time to review MRK’s acquisition. The FTC had told MRK it couldn’t complete its review by the end of the original HSR waiting period, causing MRK to withdraw and subsequently re-file the relevant paperwork. From XLRN’s SEC filing on 11/1/21:

https://www.sec.gov/Archives/edgar/data/0000064978/000119312521313999/d209265dsctota.htm

“Parent [i.e. MRK] and Acceleron filed their respective Premerger Notification and Report Forms with the FTC and the Antitrust Division on October 14, 2021. On October 29, 2021, Parent voluntarily withdrew the October 14, 2021 filing to provide the FTC with additional time for review, and intends to refile its Premerger Notification and Report Form on or about November 1, 2021. Following such refiling, the waiting period applicable to the purchase of the Shares pursuant to the Offer will expire at 11:59 p.m., Eastern Time, on or about November 16, 2021. This period may change if the FTC or the Antitrust Division, as applicable, grants early termination of the waiting period or issues a request for additional information or documentary material… [emphasis added].