The UK competition watchdog has cleared vaccine maker AstraZeneca’s £28bn bid for rival Alexion, which has been confirmed to close on 21 July.
First announced in December last year, the deal is intended to bolster AstraZeneca’s immunology capabilities by adding Alexion’s technology platforms.
European Union regulators gave the deal the green light last week.
Despite the merger’s clearing, AstraZeneca’s shares dipped 1.5 per cent, taking its total share price to 8,625.
AstraZeneca will start trading on the London Stock Exchange’s main market for listed securities, Nasdaq Stockholm and the Nasdaq Stock Market on 22 July.
Meanwhile, Alexion shares will be de‐listed from the Nasdaq Stock Market.
Once the deal is complete, new AstraZeneca shares issued to Alexion shareholders will be admitted to listing on the premium listing segment of the UK Financial Conduct Authority (FCA) and the secondary listing on Nasdaq Stockholm.
New AstraZeneca American Depositary Shares (ADSs) will also be posted to the US’s Nasdaq exchange.
“We are very pleased to have secured this critical final clearance from the UK Competition and Markets Authority for the acquisition of Alexion,” executive director and chief financial officer, Marc Dunoyer, said.
“We look forward to the imminent closing of the transaction so that we may pursue our shared ambition to bring more innovative medicines to patients worldwide and begin AstraZeneca’s next chapter of growth.”
Shareholders of both companies overwhelmingly voted in support of the deal back in May.
The combined group will set up a new division focused on rare diseases, which will be headquartered in Boston.