JHVEPhoto/iStock Editorial via Getty Images
Olink Holding (NASDAQ:OLK) fell 1.7% after the UK antitrust authority launched a formal investigation into the company's planned $3.1 billion sale to Thermo Fisher (New York Stock Exchange: TMO).
The UK Competition and Markets Authority has started a Phase 1 review of the combination, according to a destination on the regulator's website on Friday. The deadline for the decision is July 8.
The CMA first revealed in February that the agency was evaluating the Olink/Thermo Fisher alliance. German regulators are also examining the transaction.
While Thermo Fisher (TMO) reiterated late last month on its earnings conference call that it is on track to close Olink (OLK) by mid-2024, it looks like the timing could be pushed back a bit with the July 8 deadline for the UK regulator.
Thermo Fisher (TMO) agreed in October to acquire Sweden-based Olink (OLK) for $26 per share. Thermo Fisher shares rose 2.3% on Friday.
