WASHINGTON (dpa-AFX) - BioMarin Pharmaceutical Inc (BMRN) on Wednesday announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to its pending acquisition of the Netherlands-based Prosensa Holding N.V. (RNA).
The expiration of the waiting period under the HSR Act period satisfies one of the conditions to the closing of the tender offer by BioMarin to purchase all of the outstanding ordinary shares of Prosensa, which remains subject to certain other closing conditions. The deal is expected to close in the first quarter of 2015.
In November, BioMarin agreed to buy Prosensa for $17.75 per share in cash or for a total upfront consideration of about $680 million, and regulatory milestone payments of about $160 million.
The deal will provide BioMarin with worldwide rights to multiple orphan-drug candidates.
BioMarin will maintain operations at Prosensa's headquarters, based in Leiden, the Netherlands and integrate Prosensa personnel from that office.
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