Dicerna Pharmaceuticals (NSDQ:DRNA) announced that a waiting period for a proposed acquisition by Novo Nordisk (NYSE:NVO) has expired.

The announcement, made on Dec. 25, confirmed that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) in connected on with Novo Nordisk’s cash tender offer for Dicerna expired at 11:59 p.m. ET on Dec. 24, 2021.

According to a news release, Novo Nordisk commenced a cash tender offer to purchase all outstanding shares of Dicerna common stock for $38.25 per share in cash without interest and subject to any withholding of taxes. Expiration of the HSR waiting period satisfies one of the conditions necessary for the consummation of the tender offer.

Other conditions remaining include a minimum tender offer of shares representing one more share than 50% of the sum of total Dicerna shares outstanding at the time of the expiration of the offer.

Unless the tender offer is extended, the offer and withdrawal rights will expire at 5 p.m. today, Dec. 27, 2021.