Waiting period over for Chelsea-Lundbeck transaction

|About: Chelsea Therapeutics I... (CHTP)|By:, SA News Editor

The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired pertaining to Lundbeck's planned acquisition of Chelsea Therapeutics (CHTP). It will acquire Chelsea for $6.44/share plus on contingent value right for up to $1.50/share for an aggregate of $658M on a fully diluted basis.

The expiration of the waiting period satisfies one of the conditions necessary for the closing of the offer and merger.