ATI Announces Expiration of HSR Review Period for Acquisition of Ladish
01/04/2011 - The review period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired for Allegheny Technologies’ previously announced acquisition of Ladish Co., Inc.
Allegheny Technologies Inc. announced that the review period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired for its previously announced acquisition of Ladish Co., Inc.
ATI and Ladish announced last November 17 that they had entered into a definitive merger agreement whereby ATI will acquire Ladish for an aggregate fully distributed equity value of approximately $778 million.
Expiration of the HSR waiting period satisfies one of the closing conditions set forth in the merger agreement. The transaction is also subject to approval by Ladish shareholders and other closing conditions, and is expected to be completed in the first quarter of 2011.
Allegheny Technologies is one of the largest and most diversified specialty metals producers in the world with revenues of $3.8 billion for the twelve months ending September 30, 2010. ATI has approximately 8900 full-time employees world-wide, and its products include titanium and titanium alloys, nickel-based alloys and superalloys, grain-oriented electrical steel, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, and forgings and castings.
Ladish Co. is a leading producer of highly engineered, technically advanced metal components for the jet engine, aerospace and general industrial markets. Ladish is headquartered in Cudahy, Wis., with operations in Wisconsin, California, Connecticut, Oregon, and Poland.
