Cerevel gains as AbbVie says it expects deal to close soon (update)
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Update 9:45am: Updates shares, adds more AbbVie comments on timing of close.
Cerevel Therapeutics (NASDAQ:CERE) rose 2% after AbbVie (NYSE:ABBV) said it expects its planned acquisition to close soon.
AbbVie (ABBV) CEO Rob Michael said the company certified substantial compliance with the Federal Trade Commission’s second request and expects the deal will close soon, Michael said on the company’s Q2 conference call on Thursday.
Michael added that the deal may close as soon as next week and it won’t require any divestments.
Cerevel (CERE) and AbbVie (ABBV) disclosed in February that they received second requests from the FTC for additional information regarding their planned deal.
The AbbVie (ABBV) comments come after Cerevel shares gained 1.3% on Monday as one sell-side broker appeared to be more optimistic that the antitrust regulator wouldn’t move to block the combination, traders told Seeking Alpha.