Akorn buy of Hi-Tech Pharmacal delayed by FTC request

13 October 2013

In a filing with the US Stock Exchange Commission, USA-based niche generics firm Akorn (Nasdaq: AKRX) announced that it, and takeover target Hi-Tech Pharmacal (Nasdaq: HITK), as expected, had each received a request for additional information (commonly referred to as a “second request”) from the US Federal Trade Commission in connection with the proposed merger transaction between Akorn Enterprises, wholly owned subsidiary of Akorn, and Hi-Tech (The Pharma Letter August 27).

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