Roche, the Switzerland-based drugmaker, says it has extended its $4.3 billion offer to buy all shares of Philadelphia-based Spark Therapeutics Inc. from investors past its July 31 target date until Sept. 3, so U.S. and U.K. regulators can finish their longer-than-expected review on the combination.
"The offer was extended to provide additional time for the U.S. Federal Trade Commission and the UK Competition and Markets Authority to complete their previously disclosed reviews” of the deal, Roche and Spark said in this joint statement.
The $4.3 billion sale, first announced in February, was the biggest payout for a gene therapy company since doctors at research hospitals, including the Children’s Hospital of Philadelphia and the University of Pennsylvania, began gene therapy trials in the 1990s.
The price remains the same — $114.50 a share. And one-quarter of Spark investors have already cashed in their shares at that sale price, Roche and Spark noted in their statement.