“From an anti-trust perspective, there are no objections so the transaction can proceed,” said an Actelion spokesman.
If the proposed merger is consummated, CoTherix will become an indirect wholly-owned subsidiary of Actelion. Under the merger agreement made in November, a unit of Actelion, Curl Acquisition Subsidiary, will merge into CoTherix if the takeover is completed.
The CoTherix board of directors has unanimously voted to recommend that CoTherix stockholders accept the cash tender offer. The deal will be worth $420 million.
The cash tender offer and withdrawal rights will expire on January 8, 2007, unless extended.