HSR wait ends early in merger of APP Pharmaceuticals, Fresenius

By Lisa Kerner

Charlotte, N.C., Sept. 2 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed acquisition of APP Pharmaceuticals, Inc. by Fresenius Kabi, a business segment of Fresenius SE.

In July, APP agreed to be acquired by Fresenius for $3.7 billion in cash, or $23 per share, including the assumption of outstanding debt.

The offer includes a contingent value right that could deliver up to an additional $970 million, or $6 per share, if APP meets certain financial targets, it was previously reported.

Fresenius and APP expect to close the transaction in mid September.

The German antitrust authorities have already approved the deal, an APP news release said.

APP is a fully integrated pharmaceutical company specializing in injectable pharmaceutical products for the oncology, anti-infective, anesthetic/analgesic and critical care markets. The company is based in Schaumburg, Ill.

Fresenius is a health-care group located in Frankfurt, Germany, that provides products and services for dialysis, hospital and outpatient medical care.

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