Canadian radioisotope firm Nordion has cleared another regulatory hurdle in its proposed acquisition by sterilization services vendor Sterigenics for $13 per share in cash.
The proposed transaction, worth an estimated $805 million, has passed the U.S. Federal Trade Commission's (FTC) waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976. The FTC also issued a no-action letter, which means the agency does not intend to challenge the proposed acquisition.
The termination of the HSR Act waiting period and the receipt of a no-action letter pursuant to Canada's Competition Act satisfy closing conditions of the proposed deal.
Sterigenics' purchase of Nordion remains subject to certain closing conditions, including approval under the Investment Canada Act. The companies expect the acquisition to close in the second half of this year.
