Walgreen Co. and Option Care, Inc. Announce Early Termination of Hart-Scott-Rodino Act Waiting Period
Walgreen Co. (NYSE, NASDAQ: WAG) and Option Care, Inc. (NASDAQ: OPTN) announced today that the U.S. Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 applicable to Walgreens proposed acquisition of Option Care.
On July 17, 2007, Bison Acquisition Sub, Inc., a wholly owned subsidiary of Walgreens, commenced a tender offer to acquire all shares of Option Care common stock for $19.50 per share, in cash, pursuant to the previously announced agreement and plan of merger, by and among Walgreens, Bison Acquisition Sub and Option Care, dated July 2, 2007. The tender offer will expire at midnight at the end of Monday, August, 13, unless the offer is extended.
Completion of the transaction is subject to acceptance of the tender offer by a majority of Option Care’s outstanding shares, regulatory approvals and certain other customary conditions.
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