Summary
Amgen Inc. announced a significant development in its acquisition of Horizon Therapeutics plc. On October 5, 2023, the High Court of Ireland sanctioned the scheme of arrangement for the acquisition. This regulatory approval is a critical step towards the completion of the transaction, which was initially announced on December 11, 2022. While the court's sanction is a major milestone, the acquisition is not yet fully complete. Amgen still needs to deliver a copy of the court order to the Registrar of Companies in Ireland. Investors should monitor this final procedural step, as it will pave the way for the official closing of the transaction and the integration of Horizon Therapeutics into Amgen's operations. This acquisition is expected to bolster Amgen's product portfolio and market presence.
Key Highlights
- 1The High Court of Ireland has officially sanctioned the scheme of arrangement for Amgen's acquisition of Horizon Therapeutics plc.
- 2This court approval is a key regulatory hurdle cleared for the transaction.
- 3The acquisition remains subject to a final procedural step: delivery of the court order to the Registrar of Companies in Ireland.
- 4The Transaction Agreement between Amgen, its subsidiary Pillartree Limited, and Horizon was initially dated December 11, 2022.
- 5The acquisition is structured as a court-sanctioned scheme of arrangement under Irish law.
- 6Amgen's directors have taken responsibility for the accuracy of the information provided in this report.