Summary
Zoetis Inc. (ZTS) announced via an 8-K filing on July 6, 2018, that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired in connection with its previously announced acquisition of Abaxis, Inc. This development signifies a significant step forward in the regulatory approval process for the acquisition. Investors should view this as positive news, indicating that a key antitrust hurdle has been cleared. While the transaction still requires Abaxis shareholder approval and the satisfaction of other customary closing conditions, the expiration of the HSR waiting period reduces a notable uncertainty and moves Zoetis closer to integrating Abaxis's complementary portfolio and expanding its presence in the diagnostics market.
Key Highlights
- 1Expiration of Hart-Scott-Rodino (HSR) waiting period for Zoetis's acquisition of Abaxis.
- 2This is a crucial antitrust clearance for the proposed transaction.
- 3The joint press release with Abaxis confirms the expiration.
- 4The acquisition is moving forward, pending Abaxis shareholder approval and other closing conditions.
- 5The filing includes cautionary statements regarding forward-looking information and potential risks associated with the transaction and integration.
- 6Information is provided on how investors can access further details, including Abaxis's proxy statement, for the transaction.