CSL 0.40% $294.88 csl limited

talecris, csl merger stayed temporarily

  1. 745 Posts.
    lightbulb Created with Sketch. 44
    HI all, does the following indicate that if the judge rules in favor of CSL that FTC cannot go ahead and sue?
    Cheers,
    JR

    WASHINGTON, June 5 (Reuters) - Australian blood products group CSL Ltd's (CSL.AX) takeover of smaller U.S. rival Talecris Biotherapeutics Holdings Corp [TLBIO.UL] has been stayed temporarily, according to a court filing.

    U.S. District Judge Colleen Kollar-Kotelly wrote in her ruling that CSL was temporarily restrained from consummating the merger "until such time as this court rules on the commission's motion for a preliminary injunction."

    The ruling was issued on May 29, when the docket was under seal. That seal has been lifted.

    CSL, which also makes vaccines, agreed to a $3.1 billion acquisition of Talecris in August 2008 to boost its presence in the fast-growing biotherapeutics industry.

    The U.S. Federal Trade Commission said last month it would sue to block the acquisition, saying the deal would substantially reduce competition in U.S. markets for four plasma-derivative protein therapies. CSL said it would fight to pursue the merger.

    To satisfy FTC concerns, CSL has said that it had offered to sell around 25 plasma collection centers accounting for 5 percent of U.S. volume, and two branded plasma products used to treat hemolytic disease in newborns and patients with the lung disease emphysema.

    The commission also raised concerns about therapies used to treat primary immunodeficiency diseases and chronic inflammatory demyelinating polyneuropathy.

    CSL might have to pay a $75 million breakup fee to Talecris's private equity owners Cerberus Partners and Tribeca Investment Partners should the deal not be cleared by Aug. 12. (Reporting by Diane Bartz, editing by Gerald E. McCormick)
 
watchlist Created with Sketch. Add CSL (ASX) to my watchlist
(20min delay)
Last
$294.88
Change
1.180(0.40%)
Mkt cap ! $142.5B
Open High Low Value Volume
$294.99 $296.49 $293.82 $249.0M 844.6K

Buyers (Bids)

No. Vol. Price($)
1 347 $294.26
 

Sellers (Offers)

Price($) Vol. No.
$294.89 956 1
View Market Depth
Last trade - 16.10pm 26/06/2024 (20 minute delay) ?
CSL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.