Breaking: FTC Seeks More Info on Pfizer's Seagen Merger Plan
- July 15th, 2023
- 492 views
Seagen Inc. (Nasdaq: SGEN) and Pfizer Inc. (NYSE: PFE) have encountered a regulatory hurdle in their planned merger. According to a regulatory filing with the SEC, both companies received a Second Request from the Federal Trade Commission (FTC) on July 14, 2023, regarding additional information and documentary materials related to the merger. This request triggers an extension of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The companies aim to comply promptly and cooperate with the FTC to advance the review process.
Furthermore, the merger has also been referred to the European Commission (EC) for review under Article 4(5) of the EU Merger Regulation. The EC has accepted jurisdiction, making approval from the EC a crucial condition for the completion of the merger.
Despite the regulatory challenges, Seagen and Pfizer expect the merger to be finalized in late 2023 or early 2024, subject to meeting customary closing conditions and obtaining required regulatory approvals.
On Friday, $SGEN closed at $198.00 (+0.43%), and $PFE closed at $36.32 (+0.72%).
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
Tags
Post Your Comments
Want To Find Some News?
Recent Posts
-
FDA Approves Nerve Scaffold for the Treatment of Sensory Nerve Discontinuity
December 04th, 2025December 02nd, 2025Earnings Countdown: Salesforce, Snowflake, and Guidewire Take Center Stage
November 30th, 2025Wall Street Eyes CrowdStrike, Marvell Technology, and GitLab as Earnings Near
November 30th, 2025Earnings Preview: Credo Technology, MongoDB, and Hafnia in Focus
November 30th, 2025
Member Login