Horizon Therapeutics gains on report about Amgen potential deal close on May 23
May 05, 2023 1:25 PM ETHorizon Therapeutics Public Limited Company (HZNP), AMGNBy: Joshua Fineman, SA News Editor2 Comments
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- Horizon Therapeutics (NASDAQ:HZNP) quickly rose 2% on a report that Amgen's (NASDAQ:AMGN) planned acquisition is expected to close on May 23.
- Horizon (HZNP) employees were told to expect a deal close on May 23, according to a Dealreporter item on Friday, which cited an internal email sent to workers.
- The Federal Trade Commission hasn't added lawyers to its review since the parties certified with the agency's request for more information earlier this month, according to Dealreporter.
- Investors are awaiting a May 24 Irish court hearing for Horizon's (HZNP) planned $28 billion sale to Amgen (AMGN) as well as Federal Trade Commission approval for the deal. Horizon (HZNP) and Amgen (AMGN) in late January confirmed they received a second request from the FTC.
- A UBS analyst on Tuesday said that Horizon's (HZNP) earnings miss is "irrelevant" given that the sale to Amgen (AMGN) is still likely to close.
- Amgen (AMGN) is set to present at Bofa healthcare conference on Tuesday.