Spectrum Pharmaceuticals (SPPI) and Allos Therapeutics (ALTH) announced that Spectrum has provided an additional extension of the offer period in connection with its tender offer to purchase all of the outstanding shares of common stock of Allos for $1.82 per share in cash, without interest and less any applicable withholding taxes, plus one Contingent Value Right, which entitles Allos stockholders to an additional payment of $0.11 per share in cash if certain European regulatory approval and commercialization milestones for FOLOTYN are achieved. The extension was made in order for Spectrum and Allos to continue cooperating with the Federal Trade Commission, or FTC, in relation to the previously announced Request for Additional Information and Documentary Material that each party received on May 9 from the FTC under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the acquisition of Allos by Spectrum. The offer, which was previously scheduled to expire at 5:00 p.m., ET, on June 22, has been extended until 5:00 p.m., ET on July 9, unless extended for an additional period. All terms and conditions of the tender offer shall remain unchanged during the extended period.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?