As previously reported, Abbott commenced a tender offer for all of the outstanding shares of Kos common stock for $78.00 per share or $3.7 billion in cash.
The Federal Trade Commission action satisfies one of the conditions necessary for the consummation of the pending acquisition. The waiting period is part of the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
The tender offer is scheduled to expire in December unless the tender offer is extended. The offer remains subject to other customary closing conditions, including satisfaction of the minimum tender condition under an agreement and plan of merger entered into by Abbott and Kos.