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Olink Holdings (NASDAQ:OLK) dropped 3.3% in pre-market trading after disclosing details on two countries’ regulator reviews of its planned $3.1 billion sale to Thermo Fisher (NYSE:TMO).
The UK’s Competition and Markets Authority plans to open a Phase 1 investigation into the combination and the companies will submit a draft merger notification filing in January, according to a regulatory filing on Friday.
The companies also withdrew a filing with Germany’s antitrust authority on Nov. 22 and intend to refile it on or about Jan. 15, according to the filing. Olink (OLK) and Thermo Fisher (TMO) continue to expect the deal to be completed by mid-2024.
The European reviews come after the HSR waiting period for Olink’s (OLK) planned sale to Thermo Fisher (TMO) expired last month, clearing US antitrust regulators.