The waiting period is a requirement under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Termination of the waiting period satisfies a closing condition of the merger agreement between CNS and GlaxoSmithKline. The deal still needs the approval of CNS shareholders, who will meet to vote on the merger in December. GlaxoSmithKline has proposed to buy outstanding shares of CNS common stock for $37.50 per share in cash.
CNS manufactures Breathe Right nasal strips and FibreChoice dietary fibre supplements. The company focuses on products that address important consumer needs within the aging well/self-care market, including better breathing and digestive health.