DENVER—Celgene Corp., a biotechnology company, said Monday that Germany’s regulatory agency, the Federal Cartel Office, has cleared its $2.9 billion cash-and-stock acquisition of Boulder-based Pharmion Corp.
The deal, which was announced in November, already has been approved by boards of both companies and the Federal Trade Commission.
The buyout is expected to close in the second quarter, uniting in one company three medical therapies—Revlimid, Thalomid and Vidaza—that are expected to accelerate revenue and earnings growth over the next five years.
Under terms of the proposal, Pharmion shareholders will receive $72 a share, consisting of $47 in stock and $25 in cash. Pharmion stockholders will own 6 percent of the outstanding shares in the Summit, N.J.-based Celgene when the deal is finalized.
