Olink’s Surge After German Approval
Olink (NASDAQ:OLK) experienced a significant surge of 2.8% following the positive news of receiving German antitrust approval for its proposed sale to Thermo Fisher (NYSE:TMO). This approval marks a crucial milestone in the strategic acquisition plan.
German Approval Signals Progress
The German Federal Cartel Office gave the green light to the transaction on Monday, as reported on the German antitrust regulator’s website. The approval represents a pivotal step forward after the antitrust regulator in Germany escalated the review process to Phase 2 back in February for the $3.1 billion deal.
Global Antitrust Scrutiny
Notably, the UK’s Competition and Markets Authority initiated a Phase 1 review of the merger last month with a decision deadline set for July 8. This move by the CMA underscores the global attention and regulatory scrutiny that the Olink/Thermo Fisher deal has attracted.
Historic Acquisition Agreement
Thermo Fisher (TMO) sealed the deal with Sweden-based Olink (OLK) in October, agreeing to acquire the latter for $26 per share. The journey from agreement to approval has been a challenging yet rewarding process for both companies involved.
