As previously disclosed, on March 12, 2023, Seagen Inc. (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and among the Company, Pfizer Inc. (“Pfizer”) and Aris Merger Sub, Inc., a wholly owned subsidiary of Pfizer (“Merger Sub”), pursuant to which Pfizer will acquire Seagen through a merger (the “Merger”). On December 11, 2023, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired. Seagen and Pfizer have now received all required regulatory approvals for the closing of the Merger. Seagen now expects to complete the Merger on December 14, 2023, subject to the satisfaction of other customary closing conditions.
Cautionary Statement Regarding Forward-Looking Statements
Certain information set forth herein, including statements as to the expected timing and completion of the proposed transaction among the Company, Pfizer and Merger Sub, constitutes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results or developments may differ materially from those projected or implied in these statements. Such statements include statements about the Company’s expectations. Such statements are based upon the current beliefs and expectations of the management of the Company and are subject to significant risks and uncertainties outside of our control. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; risks that any of the other closing conditions to the proposed transaction may not be satisfied in a timely manner; risks related to potential litigation brought in connection with the proposed transaction; risks related to financial community and rating agency perceptions of the Company and its business, operations, financial condition and the industry in which it operates; risks related to disruption of management time from ongoing business operations due to the proposed Merger; effects of the announcement, pendency or completion of the proposed Merger on the ability of the Company to retain customers and retain and hire key personnel and maintain relationships with suppliers and partners, and on the Company’s operating results and businesses generally; and risks related to the potential impact of general economic, political and market factors on the parties to the proposed Merger or the proposed Merger.
Discussions of additional risks and uncertainties are contained in the Company’s filings with the SEC. The Company is under no obligation, and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Persons reading this document are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.