HSR wait ends in proposed merger of Barrier Therapeutics, Stiefel Laboratories

By Lisa Kerner

Charlotte, N.C., July 29 - The proposed merger of Barrier Therapeutics, Inc. and Stiefel Laboratories, Inc. is one step closer to completion now that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired.

On June 23, Stiefel agreed to acquire Barrier for $4.15 per share, or approximately $148 million.

Stiefel subsidiary Bengal Acquisition Inc. began a cash tender offer to purchase all outstanding shares of common stock of Barrier on July 8. The offer is slated to end at midnight ET on Aug. 4, it was previously reported.

Stiefel is a Coral Gables, Fla., independent pharmaceutical company.

Barrier is a Princeton, N.J.-based pharmaceutical company with a wholly owned subsidiary in Geel, Belgium.

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