22nd Apr 2020 06:54
(Alliance News) - Huntsworth PLC's takeover by a private equity firm will not be investigated by US monopoly regulators, the healthcare public relations firm said on Tuesday.
And in Austria, the Federal Competition Authority and the Federal Cartel Attorney opted not to pursue an in-depth probe of the deal.
"In relation to the US, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired and that, therefore, the outstanding anti-trust conditions have been satisfied," Huntsworth said.
Back in March, the company agreed to a GBP400 million takeover by CD&R Artemis UK Bidco Ltd, an entity fronted by New York-based Clayton Dubilier & Rice LLP.
A court hearing to sanction the takeover will take place on Thursday next week, albeit remotely due to the Covid-19 pandemic. Huntsworth shares are expected to be cancelled on May 1.
The stock closed flat at 107.50 pence each in London on Tuesday.
By Eric Cunha; [email protected]
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