Scios Inc. and Nova Pharmaceuticals Corp. said Tuesday thatthe waiting period for review by the Federal Trade Commisionof their proposed merger expired on Monday without anyrequests from the FTC for additional information.
Nova of Baltimore and Scios of Mountain View, Calif.,announced in May an agreement to merge in which holders ofNova common stock (NASDAQ:NOVX) would exchange each oftheir shares for 0.39 shares of Scios common stock(NASDAQ:SCIO). The proposed merger, valued at $180 million,is subject to approval by stockholders of both companies nextmonth. The merged company would be called Scios-Nova.
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