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Roche purchases shares in $4.3B Spark tender offer; deal on track to completion


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Roche purchases shares in $4.3B Spark tender offer; deal on track to completion

Roche Holding AG said it accepted for payment all shares in the tender offer to acquire Spark Therapeutics Inc. in a $4.3 billion all-cash deal.

Citibank NA, the depositary for the tender offer, advised the Swiss pharmaceutical company that about 23,276,342 of Spark's common shares were validly tendered and not validly withdrawn, representing about 60.4% of the latter's outstanding common stock.

Basel-based Roche launched the buyout offer to acquire all outstanding shares of the Philadelphia-based gene therapy maker for $114.50 apiece in March.

The tender offer expired at 5:00 p.m. ET on Dec. 16 and was not extended. The offer has been extended 10x to allow for further regulatory scrutiny into the deal.

On Dec. 16, Roche finally cleared regulatory hurdles after the U.K. Competition and Markets Authority and the U.S. Federal Trade Commission granted unconditional clearance to the transaction.

Roche said it plans to complete the takeover Dec. 17 without a vote or meeting of Spark's shareholders.

After deal closing, Spark will become a wholly owned unit of Roche. Spark's shares will no longer trade on the Nasdaq Stock Market.