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Antitrust Clearance Obtained For Bayer AG's Bayer HealthCare LLC Acquisition Of Conceptus Inc


Wednesday, 29 May 2013 02:00am EDT 

Conceptus, Inc announced that the Antitrust clearance from the US Federal Trade Commission (FTC) was obtained with respect to Bayer's acquisition of Conceptus, Inc., Mountain View, California. The FTC raised no objection to the transaction within the relevant waiting period under US antitrust law, which expired yesterday. The antitrust clearance marks an important step toward Bayer's intended acquisition of Conceptus. The transaction remains conditioned upon a minimum tender of at least a majority of the outstanding shares of Conceptus. On May 7, 2013, Evelyn Acquisition Company, a subsidiary established by Bayer HealthCare LLC, Tarrytown, N.Y., for the purpose of the acquisition, commenced a cash tender offer for all the shares of Conceptus, Inc. at a price of USD31 per share. The total value of the transaction amounts to approximately USD1.1 billion (equivalent to EUR852 million). The board of directors of Conceptus has unanimously recommended that its stockholders accept the offer, which expires on June 5, 2013 unless the tender offer is extended or earlier terminated by Bayer in accordance with the Merger Agreement. Following the acquisition, Bayer will be able to offer a complete range of short-term, long-term and permanent contraceptive choices for women. 

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26 Dec 2014