Seagen gains as antitrust deadline for Pfizer purchase nears on Monday
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Seagen (NASDAQ:SGEN) rose 1.2% ahead of a Monday deadline for an antitrust initial review of its planned $43 billion sale to Pfizer (NYSE:PFE).
The Hart-Scott-Rodino deadline for the Federal Trade Commission's initial look at the acquisition of the cancer drugmaker is expected to expire Monday night. Pfizer (PFE) and Seagen (SGEN) filed with antitrust regulators in regards to the deal on May 15. 
The FTC could choose to ask for a more in-depth review, known as a second request," or it could clear the purchase, or Pfizer (PFE) could choose to pull the filing with the regulator and re-file it, according to traders. 
While the $229 per share deal for Seagen (SGEN), announced in March, didn't initially appear to raise antitrust concerns, M&A investors have been worried since the FTC unexpectedly sued last month to block Amgen's (AMGN) planned $27 billion purchase of Horizon Therapeutics (HZNP). That case will be heard in an Illinois federal court in September.
Seagen (SGEN) shares dropped 6% on May 16, when the FTC announced its lawsuit to block the Horizon/Amgen deal.
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