Arena Pharma ticks higher on Nasdaq delisting notice for Pfizer deal

Arena Pharmaceuticals (NASDAQ:ARNA) rose 1.1% in after-hours trading after a Nasdaq delisting notice indicated the company's last trading day would be Thursday due to the completion of its sale to Pfizer Inc (NYSE:PFE).
The merger is tentatively scheduled to close prior to the market open on Friday, according to the Nasdaq delisting notice. In anticipation of the closing, the stock will be halted following the after-hours session at 8 p.m. on Thursday.
The notice comes after a Dealreporter story on Monday said Arena's planned $100/share sale to Pfizer Inc. (PFE) won't require a longer review from the Federal Trade Commission. The waiting period under the Hart-Scott-Rodino (HSR) act for the deal is expected to expire on Wednesday without a second request from the FTC. The shares gained 5.4% in trading on Tuesday following the story.
The FTC nod is important as it's the last remaining regulatory approval needed to clear the $6.7B acquisition before it can close.