Speech recognition and transcription technology developer M*Modal and JPMorgan Chase said that the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Act for the proposed acquisition of M*Modal.
Chase private investment arm One Equity Partners has proposed to acquire M*Modal for $1.1 billion. The tender offer and withdrawal rights are scheduled to expire on August 13, unless extended or terminated earlier in accordance with the merger agreement and applicable law.
