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Endo Announces Expiration Of Hart-Scott-Rodino Waiting Period For BioSpecifics Tender Offer; Transaction Is Expected To Close In Early December 2020

DUBLIN, Nov. 18, 2020 /PRNewswire/ -- Endo International plc (NASDAQ:ENDP) ("Endo") today announced the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust

· 11/18/2020 08:03

DUBLIN, Nov. 18, 2020 /PRNewswire/ -- Endo International plc (NASDAQ:ENDP) ("Endo") today announced the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), in connection with the previously announced tender offer by Beta Acquisition Corp., a wholly-owned indirect subsidiary of Endo ("Merger Sub"), to acquire all of the outstanding shares of common stock, par value $0.001 per share (the "Shares") of BioSpecifics Technologies Corp. (NASDAQ:BSTC) ("BioSpecifics"), at a price of $88.50 per Share (the "Offer Price"), net to the holder in cash, without interest and less any applicable withholding taxes (the "Offer"). The Offer, which commenced on November 2, 2020, is being made pursuant to the previously announced Agreement and Plan of Merger, dated October 19, 2020, by and among Endo, Merger Sub and BioSpecifics (as it may be amended from time to time, the "Merger Agreement").

(PRNewsfoto/Endo International plc)

With the expiration of the waiting period under the HSR Act, the transaction is expected to close in early December 2020, subject to the satisfaction of all remaining closing conditions set forth in the Merger Agreement. Unless extended or earlier terminated, the Offer is scheduled to expire at one minute after 11:59 PM, New York time, on December 1, 2020, which is the 20th business day following the commencement of the Offer.

Following the completion of the Offer, Endo expects to consummate a merger of Merger Sub with and into BioSpecifics as soon as practicable, in which Shares that have not been tendered in the Offer will be acquired by Endo and cancelled and converted into the right to receive the Offer Price. The Merger Agreement was approved by the Boards of Directors of both Endo and BioSpecifics. The BioSpecifics Board of Directors has recommended that BioSpecifics' stockholders tender their Shares pursuant to the Offer.