(Reuters) – Nordion Inc, a Canadian supplier of medical isotopes, said it had cleared a U.S. antitrust hurdle, paving the way for the company to be acquired by Sterigenics International.
The U.S. Federal Trade Commission terminated the waiting period for the acquisition under the Hart-Scott-Rodino Antitrust Improvements Act, Nordion said in a statement.
The company said in June it had received a request for additional information from the U.S. regulator.
Nordion also said on Friday that it received a no-action letter from the Canadian Competition Bureau.
Last month, shareholders of Nordion voted to support a friendly US$805 million takeover offer by Sterigenics. The deal is expected to close in the second half of this year.
Nordion is a leading producer of molybdenum-99, an isotope used in medical imaging, while Sterigenics is a sterilization services provider owned by U.S. private equity firm GTCR LLC.
Nordion’s U.S.-listed shares were up 3 percent at US$12.80 in premarket trading.
(Reporting by Ashutosh Pandey in Bangalore; Editing by Kirti Pandey)
(This story has been edited by Kirk Falconer, editor of peHUB Canada)
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