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UK Antitrust Authority Launches Formal Probe into Olink’s Sale to Thermo Fisher

 |  May 12, 2024

Olink’s shares took a tumble by 1.7% following the announcement of a formal probe initiated by the UK’s antitrust authority into the company’s proposed $3.1 billion sale to Thermo Fisher.

The Competition and Markets Authority (CMA) of the UK disclosed the commencement of a Phase 1 review of the merger, with a decision deadline set for July 8.

This move by the CMA comes after its earlier announcement in February, indicating its scrutiny of the Olink/Thermo Fisher consolidation. The regulatory scrutiny is not confined to the UK alone, as German regulators are also closely examining the transaction.

Related: UK Competition Regulator Probes Thermo Fisher’s $3.1B Purchase of Olink

While Thermo Fisher had previously stated its confidence in closing the Olink acquisition by mid-2024, the timing might face potential delays, particularly with the looming July 8 deadline set by the UK’s regulatory body.

The acquisition agreement, struck in October, entails Thermo Fisher acquiring Sweden-based Olink at $26 per share. Despite the regulatory turbulence, Thermo Fisher’s shares saw a contrasting rise of 2.3% on Friday, reflecting a market sentiment potentially aligned with its reassurance regarding the deal’s progress.

Source: MSN