Sepracor, Dainippon Sumitomo merger clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Sept. 24 - The Hart-Scott-Rodino waiting period in the proposed merger of Sepracor, Inc. and Dainippon Sumitomo Pharma Co., Ltd. ended on Wednesday with no action by either the Federal Trade Commission or the Department of Justice.

Dainippon's $23-per-share tender offer for Sepracor's outstanding shares ends at midnight ET on Oct. 13, according to a Sepracor news release.

As previously reported, Sepracor, a specialty pharmaceutical company, will operate as a wholly owned subsidiary of Dainippon Sumitomo Pharma America Holdings, Inc. in Marlborough, Mass., and in Canada under the Sepracor name once the merger is complete.

Dainippon is an Osaka, Japan-based pharmaceutical company.

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