HSR | Jotup

Travere Therapeutics Completes Sale of Bile Acid Product Portfolio to Mirum Pharmaceuticals

Retrieved on:

Tuesday, September 5, 2023

HSR, Hart–Scott–Rodino Antitrust Improvements Act, CTX, Gallbladder, Liver disease, Asset purchase agreement, Jay Traver, Sale, DSM-IV codes, Patient, SAN, Cholic acid, Rare, Therapy, Pharmaceutical industry, Spiroplasma mirum

SAN DIEGO and FOSTER CITY, Calif., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) and Mirum Pharmaceuticals, Inc. (NASDAQ: MIRM) today announced the completion of the previously announced sale of Travere’s bile acid product portfolio that includes Cholbam® (cholic acid) and Chenodal® (chenodiol), two medications addressing rare diseases in high-need settings (the “Asset Purchase”). In connection with the closing of the Asset Purchase, Travere received an upfront payment of $210 million from Mirum, and remains eligible to receive up to $235 million in potential sales-based milestone payments.

Key Points:

SAN DIEGO and FOSTER CITY, Calif., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) and Mirum Pharmaceuticals, Inc. (NASDAQ: MIRM) today announced the completion of the previously announced sale of Travere’s bile acid product portfolio that includes Cholbam® (cholic acid) and Chenodal® (chenodiol), two medications addressing rare diseases in high-need settings (the “Asset Purchase”).
In connection with the closing of the Asset Purchase, Travere received an upfront payment of $210 million from Mirum, and remains eligible to receive up to $235 million in potential sales-based milestone payments.
The closing of the Asset Purchase was subject to the satisfaction of customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976.
In connection with the closing, Travere will provide certain transitional services to Mirum.

BrightView Appoints Dale A. Asplund as Chief Executive Officer and Announces $500 Million Strategic Investment from One Rock Capital Partners

Retrieved on:

Monday, August 28, 2023

In conjunction with his appointment as CEO, Asplund will also join the BrightView board as a director as of that date.

Key Points:

In conjunction with his appointment as CEO, Asplund will also join the BrightView board as a director as of that date.
In addition, BrightView today announced that an affiliate of One Rock Capital Partners, LLC (“One Rock”), a value-oriented, operationally focused private equity firm, has made a $500 million strategic investment in the Company in the form of convertible preferred stock.
Abrahamson, who has served as a BrightView independent director since 2015, will remain as a member of the Board.
Earlier in his career, Asplund worked for United Waste Systems, Inc.
“We are excited to welcome Dale to the BrightView team.

Heritage-Crystal Clean, Inc. Announces Expiration of “Go-Shop” Period Contained in Previously Announced Merger Agreement

Retrieved on:

Thursday, August 24, 2023

Other Energy, Oil, Gas, Environment, Other Manufacturing, Energy, Engineering, Green Technology, Manufacturing, HSR, Hart–Scott–Rodino Antitrust Improvements Act, Acquisition, William Blair & Company

The “go-shop” period expired at 11:59 p.m. Eastern Time on August 23, 2023.

Key Points:

The “go-shop” period expired at 11:59 p.m. Eastern Time on August 23, 2023.
Crystal Clean did not receive any competing acquisition proposals during the “go-shop” period.
Upon expiration of the “go-shop” period, pursuant to the definitive merger agreement with JFLCO, Crystal Clean became subject to customary “no-shop” provisions that limit Crystal Clean and its representatives’ ability to solicit alternative acquisition proposals from third parties or to provide confidential information to third parties, subject to customary “fiduciary out” provisions.
The transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions, including approval by Crystal Clean stockholders and the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976.

Bausch + Lomb Announces Expiration of Hart-Scott-Rodino Waiting Period for Acquisition of XIIDRA®

Retrieved on:

Thursday, August 24, 2023

Pharmaceutical, Health, Optical, HSR, Telecanthus, Hart–Scott–Rodino Antitrust Improvements Act, NYSE, Inflammation, Ophthalmology, Pharmaceutical industry, Retail

Bausch + Lomb Corporation (NYSE/TSX: BLCO), a leading global eye health company dedicated to helping people see better to live better, today announced expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended (the “HSR Act”), with respect to the previously announced agreement to acquire XIIDRA (lifitegrast ophthalmic solution) 5%, a non-steroid eye drop specifically approved to treat the signs and symptoms of dry eye disease focusing on inflammation associated with dry eye, and certain other ophthalmology assets.

Key Points:

Bausch + Lomb Corporation (NYSE/TSX: BLCO), a leading global eye health company dedicated to helping people see better to live better, today announced expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended (the “HSR Act”), with respect to the previously announced agreement to acquire XIIDRA (lifitegrast ophthalmic solution) 5%, a non-steroid eye drop specifically approved to treat the signs and symptoms of dry eye disease focusing on inflammation associated with dry eye, and certain other ophthalmology assets.
Expiration of the HSR Act waiting period occurred at 11:59 p.m.
ET on Aug. 23, 2023.
Completion of the transaction is expected to occur at or around the end of September, subject to satisfaction of the remaining customary closing conditions.

Quantum Energy Partners Completes Sale of Tug Hill and XcL Midstream Assets

Retrieved on:

Tuesday, August 22, 2023

“We are pleased to complete the sale of Tug Hill and XcL Midstream, which we expect to enhance U.S. energy security, affordability and reliability, while supporting the ongoing transition to cleaner energy sources,” said Wil VanLoh, Founder and CEO of Quantum.

Key Points:

“We are pleased to complete the sale of Tug Hill and XcL Midstream, which we expect to enhance U.S. energy security, affordability and reliability, while supporting the ongoing transition to cleaner energy sources,” said Wil VanLoh, Founder and CEO of Quantum.
“We are incredibly proud of the partnership we’ve had with the Tug Hill and XcL Midstream teams over the past nine years.
I also want to highlight the Tug Hill and XcL Midstream teams for their extraordinary work in building this platform, achieving leading ESG performance and positioning Tug Hill and XcL Midstream to capitalize on the opportunities ahead.
J.P. Morgan Securities and Wells Fargo Securities served as financial advisors to Tug Hill and XcL Midstream and Vinson & Elkins LLP served as legal counsel to Tug Hill and XcL Midstream.

Global Consulting Firm J.S. Held Announces Partnering Agreement with Market-leading Managed Document Reviewer QuisLex

Retrieved on:

Monday, August 21, 2023

HSR, Partnership, Chambers, Partner, Warner Bros. Discovery EMEA, Chambers and Partners, Knowledge, Audit, EU

JERICHO, N.Y., Aug. 21, 2023 /PRNewswire-PRWeb/ --Global consulting firm J.S. Held announces a collaboration and partnering agreement with industry-leading alternative legal service provider, QuisLex. Recognized annually by Chambers & Partners, QuisLex provides market-leading document review services that complement J.S. Held's eDiscovery, data analytics, and digital forensics expertise to help clients respond to US, UK and EU regulatory authorities during merger clearance requests.

Key Points:

Held eDiscovery, data analytics, and digital forensics experts partner with market-leading managed document reviewer QuisLex to support antitrust counsel responding to US, UK, and EU regulatory authorities during merger clearance HSR Second Requests.
Held announces a collaboration and partnering agreement with industry-leading alternative legal service provider, QuisLex .
Recognized annually by Chambers & Partners, QuisLex provides market-leading document review services that complement J.S.
The partnership of QuisLex managed document review along with eDiscovery, data analytics, and digital forensics expertise of J.S.

NANOBIOTIX Announces Expiration of HSR Waiting Period Regarding the Agreement for Worldwide Co-Development and Commercialization of Potential First-in-Class Radioenhancer NBTXR3

Retrieved on:

Tuesday, August 15, 2023

HSR, Hart–Scott–Rodino Antitrust Improvements Act, Cancer, NANO, Patient, Nanobiotix, Johnson & Johnson, NBTXR3, Janssen Pharmaceuticals, Pharmaceutical industry, Health insurance, Euronext

PARIS and CAMBRIDGE, Mass., Aug. 15, 2023 (GLOBE NEWSWIRE) -- NANOBIOTIX (Euronext: NANO –– NASDAQ: NBTX – the ‘‘Company’’), a late-clinical stage biotechnology company pioneering physics-based approaches to expand treatment possibilities for patients with cancer, announced today the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 for its previously announced (July 10, 2023) global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica NV (“Janssen”), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for the investigational, potential first-in-class radioenhancer NBTXR3.

Key Points:

PARIS and CAMBRIDGE, Mass., Aug. 15, 2023 (GLOBE NEWSWIRE) -- NANOBIOTIX (Euronext: NANO –– NASDAQ: NBTX – the ‘‘Company’’), a late-clinical stage biotechnology company pioneering physics-based approaches to expand treatment possibilities for patients with cancer, announced today the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 for its previously announced (July 10, 2023) global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica NV (“Janssen”), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, for the investigational, potential first-in-class radioenhancer NBTXR3.
With the expiration of the HSR waiting period, the transaction has become effective, and as such, Nanobiotix is eligible to receive payment of the $30 million upfront cash licensing fee.

HDL Therapeutics to Go Public in Merger with Swiftmerge Acquisition Corp.

Retrieved on:

Friday, August 11, 2023

Under the terms of the merger agreement, a wholly-owned subsidiary of Swiftmerge will merge with and into HDL Therapeutics after which HDL Therapeutics will be a wholly owned subsidiary of Swiftmerge, and the holders of the outstanding HDL Therapeutics preferred stock and common stock will receive a combination of cash and equity in Swiftmerge having a total value of $400 million (subject to adjustments).

Key Points:

Under the terms of the merger agreement, a wholly-owned subsidiary of Swiftmerge will merge with and into HDL Therapeutics after which HDL Therapeutics will be a wholly owned subsidiary of Swiftmerge, and the holders of the outstanding HDL Therapeutics preferred stock and common stock will receive a combination of cash and equity in Swiftmerge having a total value of $400 million (subject to adjustments).
The business combination between HDL Therapeutics and Swiftmerge (the “Transaction”) values the combined company at approximately $480 million.
It is anticipated that HDL Therapeutics will trade on the NASDAQ with the ticker symbol “HDLT”.
Mayer Brown LLP is serving as legal advisor to HDL Therapeutics, and Loeb & Loeb LLP is serving as legal advisor to Swiftmerge.

Heritage-Crystal Clean, Inc. Announces Second Quarter 2023 Financial Results

Retrieved on:

Wednesday, August 9, 2023

Revenue for the second quarter of 2023 was $192.2 million compared to $156.6 million for the second quarter of 2022, an increase of 22.7%.

Key Points:

Revenue for the second quarter of 2023 was $192.2 million compared to $156.6 million for the second quarter of 2022, an increase of 22.7%.
As a result of the 5 additional working days in the second quarter of 2023 compared to the second quarter of 2022, we estimate current quarter corporate SG&A expenses were higher by $1.8 million.
Operating margin for the second quarter of 2023 was 16.0% compared to the recast margin of 8.6% in the second quarter of 2022.
Oil Business segment operating margin decreased to 11.6% in the second quarter of 2023 compared to 41.4% in the second quarter of fiscal 2022.

FTC and DOJ Extend Public Comment Period by 30 Days on Proposed Changes to HSR Form

Retrieved on:

Saturday, August 5, 2023

Commission, Act, DOJ, Department, HSR, Hart–Scott–Rodino Antitrust Improvements Act, Social media, Federal Register, Blog, News, Register, FTC, Federal Trade Commission, Cryptocurrency

With the extension, the agencies will now be accepting comments on the proposed changes until September 27, 2023.

Key Points:

With the extension, the agencies will now be accepting comments on the proposed changes until September 27, 2023.
The proposed changes, announced by the FTC and DOJ in June of this year, would enable the agencies to more effectively and efficiently screen transactions for potential competition issues within the initial waiting period, which is typically 30 days.
The Commission vote approving the public comment period extension was 3-0.
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