Business News: Allergan and ZELTIQ Announce Expiration of HSR Waiting Period for Pending Transaction

Allergan is now one step closer to officially acquiring Zeltiq.

The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") has expired with respect to Allergan's proposed acquisition of ZELTIQ. Allergan and ZELTIQ entered into a definitive agreement under which Allergan has agreed to acquire ZELTIQ. Following the announcement of the transaction, Allergan and ZELTIQ filed a Notification and Report Form pursuant to the HSR Act with the Antitrust Division of the U.S. Department of Justice and the Federal Trade Commission.

Expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions, including approval by the stockholders of ZELTIQ.

ZELTIQ is scheduled to hold a stockholder meeting on April 27, 2017 to vote on the proposed transaction, and the companies expect the transaction to be completed shortly thereafter.