vzphotos/iStock Editorial via Getty Images Cerevel Therapeutics ( NASDAQ: CERE ) quickly swung between gains and losses amid a notice from the Federal Trade Commission of an upcoming meeting. Cerevel shares ticked higher by 0.7% after earlier slipping 0.
6%. The FTC scheduled a close door meeting for next Thursday at 12:30pm for consideration of a nonpublic law enforcement matter, according to a listing post Thursday on the regulator's website. Some investors may be concerned that the regulator is holding a vote on AbbVie's ( ABBV ) planned $8.
7 billion acquisition of Cerevel ( CERE ). While sometimes these meetings are about public companies, oftentimes they are about private firms. The FTC notice also comes after Politico reported last Wednesday that the FTC is preparing to file a lawsuit against the largest U.
S. alcohol distributor, Southern Glazer’s Wine and Spirits, over alleged practices related to how it prices and sells wine and liquor around the U.S.
AbbVie ( ABBV ) on Wednesday attempted to reassure Cerevel ( CERE ) investors about the deal when its COO said at a Goldman Sachs healthcare conference that the company was making "good progress" with the FTC. "We're making very good progress with that piece," AbbVie COO Robert Michael said at the conference. "We continue to expect to close the transaction in the middle part of the year.
" Cerevel ( CERE ) and AbbVie disclosed in February that they received second requests from the FTC for additional information regardin.
