Allos, Spectrum Pharmaceuticals deal

Spectrum extended to 5 p.m. EDT on May 24 from May 10 its tender offer to acquire cancer company Allos for $1.82 per share up front, plus a contingent value right of $0.11 related to European regulatory and commercial milestones for Allos' Folotyn pralatrexate. Spectrum extended the offer after the U.S. Federal Trade Commission (FTC) requested information under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 from both companies for more information on the acquisition. As of May 9, about 49.8 million shares, or 46.5% of Allos stock, were tendered (see BioCentury, April 9 & April 23). ...