(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)
Photo courtesy of Shutterstock
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.