The US Federal Trade Commission has granted early termination of the waiting period to Sirtex Medical Limited (ASX: SRX) under the Clayton Act and Premerger notification rules, with respect to the Premerger Notification made by Sirtex and CDH fund V, L.P. under the Hart-Scott-Rodino Antitrust improvements act of 1976. Proposed under the scheme implementation deed between Sirtex, CDH Genetech Limited and China Grand Pharmaceutical and Healthcare Holdings Limited, receipt of the approval satisfies a condition to implementation of the scheme of arrangement.
CDH also agreed to indemnify Sirtex against payment of the break fee payable to Varian resulting from the Sirtex Board’s support for the CDH-CGP scheme of arrangement, under the terms of the scheme implementation deed entered with CDH Genetech Limited and China Grand Pharmaceutical and Healthcare Holdings Limited (CDH-CGP) on the same day. Also, a key condition has been satisfied with the receipt of Australian Foreign Investment Review Board clearance in respect of the scheme.
Sirtex Medical Limited (ASX: SRX) traded at a market price of $32.010 with a daily price change or decline of -$0.040 or a percentage change of -0.125% on July 16, 2018. The stock has seen a performance change of 95.55% over the past 12 months.
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