AstraZeneca’s planned takeover of Alexion clears last regulatory review, deal to close next week

The final regulatory hurdle for AstraZeneca’s mega-merger with Alexion Pharmaceuticals has been cleared, paving the way for the deal to close as soon as next week.

Britain’s financial watchdog, The UK Competition & Markets Authority, has rubber stamped AstraZeneca’s $39 billion takeover of the Boston-based rare disease biotech, the companies announced Wednesday morning. As a result, the transaction is expected to close on July 21, with Alexion shares $ALXN being converted to AstraZeneca stock $AZN and removed from Nasdaq the next day.

Shares will also be admitted to the London Stock Exchange and Nasdaq Stockholm, the two markets of AstraZeneca’s home countries of the UK and Sweden. Once the merger is wrapped up, Alexion will essentially become AstraZeneca’s entire rare disease unit with blockbuster Soliris and follow-up drug Ultomiris coming on board.

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