Opiant announces expiration of HSR waiting period for acquisition by Indivior

Opiant Pharmaceuticals (OPNT) announced the expiration of the waiting period under the United States Hart-Scott-Rodino Act of 1976, as amended, with respect to the previously announced agreement for Opiant to be acquired by Indivior PLC (INVVY). The waiting period expired on February 2, 2023, without any action taken by the Federal Trade Commission. The HSR Act is a key U.S. antitrust statute that enables the FTC and Department of Justice to review proposed merger transactions by requiring the parties to observe a waiting period before closing their transaction. Completion of the transaction is subject to the satisfaction of the remaining customary closing conditions, including approval by Opiant stockholders and the receipt of remaining applicable regulatory approvals. Indivior and Opiant continue to anticipate completing the merger agreement in the first quarter of 2023. Stockholders are reminded: Opiant has filed a definitive proxy statement with the Securities and Exchange Commission and established January 4, 2023, as the record date for voting in connection with the merger agreement. Under the terms of the Agreement, Indivior will acquire all the outstanding shares of Opiant for upfront consideration of $20.00 per share in cash at closing, plus contingent value rights representing potential additional payments of up to $8.00 per share. A special meeting of Opiant’s stockholders to approve the acquisition will be held on March 1, 2023, at 9:00 AM, Pacific Time.The Opiant Board of Directors unanimously recommends that stockholders vote "FOR" the approval and adoption of the Agreement and the approval of the acquisition.