Pfizer, Coley merger clears waiting period, regulatory hurdle

By Lisa Kerner

Charlotte, N.C., Dec. 18 - Pfizer Inc. said the Hart-Scott-Rodino waiting period has expired in connection with the company's bid to acquire Coley Pharmaceutical Group, Inc.

The Federal Cartel Office of Germany also granted its clearance in the deal, according to a company news release.

On Nov. 30, Pfizer began its $8-per-share tender offer for all outstanding shares of Coley. The offer is set to end at midnight ET on Dec. 28.

As previously reported, Pfizer agreed to acquire Coley for some $164 million.

The transaction is slated to close early in 2008.

Coley is a Wellesley, Mass.-based biopharmaceutical company.

Pfizer is a pharmaceutical company located in New York.

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