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Post by Deleted on Oct 11, 2018 9:36:12 GMT -5
Good find, I thought the HSR form gets filed same date as the 8-K but not certain. Are both parties required to file the HSR or just United? 13. There is no deadline under U.S. law for filing the HSR form, and the parties may in some cases delay filing their HSR forms for strategic reasons. For example, they may want to give themselves time to engage on substantive antitrust issues of the deal with the DOJ or FTC before the waiting period begins. Once both parties successfully file their HSR forms (subject to some exceptions for tender offers) a 30 calendar- day waiting period begins to run. The DOJ and FTC then work together through their internal “clearance process” to determine whether either agency will take a closer look at the transaction, and if so, which agency will conduct the review. The decision between DOJ and FTC review is typically based on historical expertise of the agencies in certain industries, but delays may result where the agencies both claim special expertise related to the industry in which the parties operate. The 30-day clock continues to run as this clearance process plays out. |
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Post by jlaw277 on Oct 11, 2018 9:53:23 GMT -5
Given that Mike said something to the effect that the HSR process would be wrapped in up in the next couple of weeks at the October 2nd Cantor conference AND that there is no approval but rather a lack of objection required on the part of the FTC, I believe that the deal is probably in the clear or close to. But I believe that per the terms of the deal, it will be UTHR that dictates when and if an announce might be made. I don't know if they are required to announce a lack of objection/challenge as a material & reportable event. UTHR could choose to remain silent until the 10Q.
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Post by tomtabb on Oct 11, 2018 11:20:13 GMT -5
Mike made clear that the deal should be consummated upon the FTC clearance and said at the Cantor conference that he expected clearance within two weeks. I think MNKD would have to announce something by the end of next week one way or the other. Today, for sure, the market seems to have doubts.
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Post by babaoriley on Oct 12, 2018 17:32:36 GMT -5
Matt wrote: "However, in this case where UTHR has already scooped up SteadyMed taking another potential competitor (i.e. MNKD) out of the picture may leave too few viable competitors." Matt, did you just call MNKD a "viable competitor?" I damn near fell off my chair when I read that from you! Yup, the FTC can't have us taking over the trepostinil market - you know, much like we've dominated the insulin/diabetes market - that would be sooooo anti-competitive. If we don't get approval from the FTC, it would be cuz someone like Marty Shkreli wrote a scary letter to them.  |
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