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Actionable news in HZNP: Horizon Pharma, Inc.,

The waiting period under the

As previously announced on September8, 2015, Horizon Pharma commenced an exchange offer for all of the outstanding shares of Depomed common stock. Under the terms of the offer, tendering Depomed shareholders would be able to exchange each share of Depomed common stock for 0.95 Horizon Pharma ordinary shares. The expiration of the HSR waiting period satisfies one of the conditions required to consummate the offer. Other conditions remain to be satisfied, including, among others, the redemption or removal of certain poison pill rights that the Depomed board of directors has the unilateral ability to remove, the tender of a majority of the total number of outstanding Depomed common stock shares on a fully diluted basis and the affirmative vote at a special meeting of the shareholders o f Horizon Pharma to approve the issuance of Horizon Pharmas ordinary shares in the acquisition.

The offer is scheduled to expire at 5 p.m., Eastern time, on November6, 2015, but may be extended by Horizon Pharma. If the exchange offer is completed, Horizon Pharma would expect to complete a second-step merger as soon as practicable thereafter in order to acquire the remaining Depomed...


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