Valeant Receives Antitrust Clearance For Acquisition Of Solta Medical

(RTTNews) - Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) said the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for the previously announced tender offer by its indirect wholly-owned subsidiary Sapphire Subsidiary Corp. for all outstanding shares of common stock of Solta Medical, Inc. (SLTM) expired on January 14.

The expiration of the HSR waiting period satisfies one of the conditions to consummate the tender offer.

It was on December 16, 2013 that Valeant said it agreed to purchase all outstanding common shares of Solta Medical for $2.92 per share cash, in a transaction valued at around $250 million. The deal, once completed, is expected to be immediately accretive to Valeant's cash earnings per share.