Apigee Corporation (NASDAQ:APIC), the API company, today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), applicable to the proposed acquisition of Apigee by Google Inc. (“Google”), was terminated early by the United States Federal Trade Commission on October 12, 2016.
As previously announced, Apigee entered into a definitive Agreement and Plan of Merger dated September 7, 2016, by and among Apigee, Google and Areopagus Inc., a wholly owned subsidiary of Google, under which Google will acquire Apigee for $17.40 per share in cash, subject to the satisfaction of certain closing conditions, including Apigee stockholder approval and applicable regulatory approvals (the “Merger”). Termination of the HSR Act waiting period is one of the specified conditions to which closing of the proposed acquisition is subject.
Apigee is scheduled to hold a special meeting of stockholders on November 8, 2016 to consider and act upon the adoption and approval of the Agreement and Plan of Merger. Additional regulatory approvals are still pending.
Apigee® (NASDAQ:APIC) provides a leading API platform. Many of the world’s largest organizations select Apigee to enable their digital business. Apigee customers include global enterprises such as Walgreens, Burberry, Morningstar, and First Data. For more information, go to http://apigee.com.