3 February 2012 - US drug giant Bristol-Myers Squibb Co (NYSE:BMY) today announced that the waiting period under the Hart-Scott-Rodino act (HSR) for its USD2.5bn (EUR1.9bn) takeover of biopharmaceutical company Inhibitex Inc (NASDAQ:INHX) had expired.

The offer of USD26.00 (EUR19.73) per share is running until 10 February.

With the expiration of the HSR period, the buyer has met one of the conditions on the deal, it said in a statement.

The transaction, which was signed last month, is now subject to acceptance by Inhibitex shareholders controlling the majority of its shares.

Bristol-Myers is being advised on the deal by MacKenzie Partners Inc, Citigroup Global Markets Inc and Kirkland & Ellis LLP. Credit Suisse USA and Dechert LLP are providing advice to Inhibitex.