As AbbVie and Soliton shake hands on a $550M merger, the FTC says 'not so fast'
Back in May, AbbVie’s Allergan Aesthetics unit signed away $550 million in cash to scoop up drugmaker Soliton and its body sculpting device Resonic. Now, the FTC is requesting a bit more time to review the proposed merger.
On Aug. 6, Soliton and AbbVie each received a request from the FTC for “additional information and documentary material,” Soliton said in an SEC filing. The hold-up shouldn’t set the companies back too far, as they still expect to close on the merger this year. But the FTC’s move indicates that new chair Lina Khan is starting to make good on her promise to roll back restrictions on antitrust investigations.
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