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Olink (NASDAQ:OLK) fell 6.8% after its planned sale to Thermo Fisher (NYSE:TMO) moved into a Phase 2 review in Germany.
Germany’s antitrust regulator moved the review of the $3.1 billion sale to Thermo Fisher (TMO) into a Phase 2 review, according to a filing from the German Bundeskartellamt.
“The parties currently expect the Phase 2 review by the German Bundeskartellamt to be completed by mid-2024, which is consistent with the expected timeline of the other ongoing regulatory reviews, including the review by the CMA,” the companies said in a separate regulatory filing.
The German review comes after the UK’d antitrust authority disclosed late last month that it was evaluating the Olink/Thermo Fisher tie up. The UK regulator opened an invitation to comment until Feb. 23.
In November, the US HSR waiting period for the Olink (OLK) sale to Thermo Fisher (TMO) expired.
Thermo Fisher (TMO) in October agreed to acquire Sweden-based Olink (OLK) for $26 per share.
