Power Alley: The Withdrawal Of Merck's Original HSR Filing -- On Acceleron -- Means... Exactly Zip.

So, it is clear that Merck is playing nice with the FTC, here. FTC has requested more time than the straight statute allows, for a review of the deal, and Merck is confident that the review will turn up no issues, so it has withdrawn and will refile next week. . . solely to restart the statutory clock.

Smart cooperation here, especially since the company knows it now has the BMS/Celgene holdings of Acceleron in its camp. Here's the bit, after NYSE close here on a Halloween Friday night:

. . .Merck has elected to withdraw its Premerger Notification and Report Form, which was initially filed on October 14, 2021, to provide the Federal Trade Commission (the “FTC”) with additional time for review, and expects to refile such form on or about November 1, 2021.

Following the refiling, the waiting period applicable to the pending acquisition will expire at 11:59 p.m., Eastern time, on or about November 16, 2021. The acquisition is expected to close in the fourth quarter of 2021. . . .

Onward -- excited for trick or treaters, tomorrow, and grinning -- after missing a year due to the pandemic.

नमस्ते