Technip - FMC Technologies Merger Passes U.S. Review
A pending merger transaction between Technip an FMC Technologies has received an early decision from the United States antitrust regulators under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act), concluding antitrust review of the transaction in the U.S. under the HSR Act.
The merger agreement was announced May 19, 2016, which led to execution of a business combination agreement on June 16.
Conclusion of antitrust review in the United States under the HSR Act satisfies one of the closing conditions of the pending transaction, which remains subject to other closing conditions, including approval of Technip and FMC Technologies shareholders, the conclusion of antitrust review in other countries, other regulatory approvals and consents, as well as other customary closing conditions.
The transaction is expected to close early in 2017, subject to the satisfaction of these other closing conditions.
