NORTH CHICAGO, Ill., April 17, 2015 /PRNewswire/ -- AbbVie Inc. ("AbbVie") (NYSE / CHX / Euronext Paris / SIX: ABBV) today announced that it has extended the expiration of its exchange offer to acquire all of the outstanding shares of common stock of Pharmacyclics, Inc. to 5 p.m., New York City time, on May 1, 2015.
On April 17, 2015, AbbVie also voluntarily withdrew its initial Notification and Report Form under the Hart-Scott-Rodino Antitrust Improvements Act in order to provide the FTC with additional time to review the proposed transaction. A new 30 calendar day HSR waiting period will begin when AbbVie resubmits its HSR filing, which is expected to occur on April 21, 2015. AbbVie and Pharmacyclics continue to work cooperatively with the Federal Trade Commission staff in their review of the proposed transaction, and expect to close the transaction in second-quarter 2015.
The depositary of the exchange offer has advised that, as of 4:00 p.m., New York City time, on April 17, 2015, a total of approximately 47,465,978 shares of Pharmacyclics common stock were validly tendered and not properly withdrawn in the exchange offer.
All other terms and conditions of the exchange offer remain unchanged.
NOT everyone seems to be prepared to sell their shares to Abbvie. 47.4 m shares tendered out of 76.8m. 38% +
Is Abbvie going to have to pay even more for Pharmacyclics?? and is the same scenario going to play out with Galapagos IF and WHEN the take-over is announced?