BRIEF—Delays in approval for CSL's buy of Vifor Pharma

Australia-headquartered biotech CSL Limited yesterday announced an update regarding the planned acquisition Vifor Pharma.

CSL has previously advised that it expected to be in a position to close the acquisition of Vifor by June 2022. While some antitrust authorities have approved the transaction, some approvals are still outstanding.

Delays in the regulatory approval process are not unusual. CSL and Vifor Pharma are continuing to work closely with the respective remaining competition authorities in their review of the tender offer. CSL and Vifor Pharma expect to provide an update to shareholders and investors as soon as there is more clarity on the timeline.

An exact closing and settlement date will be communicated once all regulatory approvals have been received. CSL remains confident of completing its acquisition of Vifor Pharma.

In December last year, CSL struck a definitive agreement to acquire Vifor for $179.25 per share in cash, or an aggregate equity value of $11.7 billion.