Insights: Mergers & Acquisitions

Mergers & Acquisitions

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The U.K. CMA announced on October 20 that it had found the merger may cause harm to competition in the U.K. “editorial content” and global “stock content” markets. The companies have until October 27 to offer merger remedies to forestall a Phase 2 review. Separately, M&A trade publication Mlex reported on October 13 that the companies had...

Mergers & Acquisitions

Omnicom/Interpublic

The companies filed with the EC on October 20. We continue to expect the proposed merger will be cleared by the EC in Phase 1. The pre-notification stage of the EC’s review was longer than anticipated (~10.5 months), but we do not believe the deal has elicited substantial antitrust concern from the EC. Feedback from industry participants...

Mergers & Acquisitions

BioCryst Pharmaceuticals/Astria Therapeutics

The companies are set to file HSR by November 12. We anticipate that the FTC will clear the deal without a second request, but there is some risk of antitrust attention. BioCryst and Astria both possess drugs indicated for hereditary angioedema (HAE) prophylaxis. BioCryst markets and supplies Orladeyo, an FDA-approved oral drug, while Astria is...

Mergers & Acquisitions

Novo Nordisk/Akero Therapeutics

The companies are set to file HSR by November 7. We believe the proposed merger is likely to avoid a second request. Novo's Wegovy (FDA-approved) and Akero's efruxifermin (Phase III) have the same indication –MASH with moderate-to-advanced liver fibrosis (F2-F3). Wegovy is also only one of two FDA-approved drugs indicated for MASH with...

Mergers & Acquisitions

The companies are due to file HSR on October 28. The MA contains a provision that if the filing deadline falls on a date that the Premerger Notification Office (PNO) is not accepting filings, the HSR deadline will be extended to the business day after the PNO begins accepting filings again. While the PNO remains open during the government...

Mergers & Acquisitions

The transaction received a second request from the FTC on September 17. There is substantial risk this deal could be challenged by the FTC. According to industry participants (who are not involved in the deal) 365 Retail (365) and Cantaloupe are the largest players in three unattended retail market segments: micro-markets, smart markets, and...