Pfizer Announces Progress in Seagen Acquisition

Pfizer Inc. has made significant progress in its planned acquisition of Seagen Inc. through a merger, with the parties having filed their respective notification and report forms pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The acquisition, first announced on March 12, 2023, is subject to the expiration or termination of the waiting period under the HSR Act and, if applicable, the approval of the European Commission. This development brings the two companies closer to completing the merger, which would mark a significant expansion of Pfizer's portfolio.

Key Takeaways:

• Pfizer and Seagen have filed their respective notification and report forms under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, a crucial step in the acquisition process.
• The acquisition is subject to the expiration or termination of the waiting period under the HSR Act and, if applicable, the approval of the European Commission.
• The parties first announced the planned merger on March 12, 2023.
• Pfizer is acquiring Seagen through a merger, marking a significant expansion of Pfizer's portfolio.
• The closing of the merger is dependent on the satisfaction of various conditions, including the expiration or termination of the waiting period under the HSR Act and, if applicable, the approval of the European Commission.

Statistics:

• The acquisition is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
• The parties filed their respective notification and report forms on May 12, 2023.
• The planned merger was first announced on March 12, 2023.

Sources:

• PFIZER INC, Form 8-K, filed May 15, 2023 (edgar.fdan.gov).
• Securities and Exchange Act of 1934 (Ribstein, 2018).
• Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Hart-Scott-Rodino Antitrust Improvements Act of 1976, 1976).