Bristol Myers - MyoKardia Deal Receives U.S. Regulatory Approval

(RTTNews) - Bristol Myers Squibb (BMY) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, or HSR Act, in connection with the company's tender offer to acquire MyoKardia Inc. (MYOK).

Expiration of the waiting period under the HSR Act satisfies one of the conditions necessary for the consummation of the transaction. The transaction remains subject to the tender of a majority of the outstanding shares of MyoKardia's common stock, as well as other customary closing conditions.

The tender offer will expire on November 16, 2020.

In early October, Bristol Myers Squibb agreed to acquire MyoKardia for $13.1 billion, or $225.00 per share in cash.