Shire waives OFT condition relating to the acquisition of ViroPharma Inc.
Shire plc (LSE: SHP, NASDAQ: SHPG) announces that it has waived the Office of Fair Trading (OFT) approval condition to the announced tender offer for all of the outstanding shares of ViroPharma Incorporated (NASDAQ: VPHM).
As a result of the waiver, the transaction is no longer conditional on OFT approval, and Shire expects to complete the tender offer on January 24, 2014 following the currently scheduled expiration time, subject to the satisfaction of all of the remaining conditions to the tender offer. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) expired on December 10, 2013.
The tender offer is scheduled to expire at midnight, New York City time, on Thursday, January 23, 2014 (one minute after 11:59 p.m., New York City time, on January 23, 2014).