Horizon Therapeutics ticks higher amid Nasdaq delisting notice for sale to Amgen
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Horizon Therapeutics (NASDAQ:HZNP) ticked up 0.2% in after hours trading amid a Nasdaq delisting notice for its planned $28 billion sale to Amgen (NASDAQ:AMGN).
Horizon (HZNP) stock is scheduled to be halted in the after-hours session on Thursday if the Irish High Court sanctions the scheme of arrangement at the court hearing, according to the delisting notice. If the court issues and makes available to Horizon an order sanctioning the scheme of arrangement no later than Friday morning (Irish time), the deal is expected to close prior to the market opening on Friday.
If the court doesn't sanction the scheme of arrangement on Thursday, the stock will not be halted.
Amgen (AMGN) CEO Robert Bradway said he expected the Horizon (HZNP) deal to close by mid-October, he commented last month at a Morgan Stanley Global Healthcare conference.
The Federal Trade Commission last month settled with Amgen (AMGN) and Horizon (HZNP) to allow the combination to move forward. The companies said they expect to be able to close the deal in the early fourth quarter.

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