FTC Requests Additional Info Regarding Carpenter’s Acquisition of Latrobe
08/09/2011 - The U.S. Federal Trade Commission has submitted requests to both Carpenter Technology and Latrobe Specialty Metals for additional information regarding Carpenter's pending acquisition of Latrobe.
The U.S. Federal Trade Commission (FTC) has submitted requests to both Carpenter Technology Corp. and Latrobe Specialty Metals, Inc. for additional information regarding Carpenter's pending acquisition of Latrobe.
The request for information from the FTC, commonly referred to as a “Second Request,” is part of the regulatory process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (HSR). The Second Request extends the HSR waiting period until 30 days after the parties have substantially complied with the Second Request unless that period is extended voluntarily by the parties or terminated sooner by the FTC.
Both Carpenter and Latrobe state they intend to respond expeditiously to the request and to continue to work cooperatively with the FTC to obtain HSR clearance as promptly as possible.
Closing of the transaction remains subject to expiration or termination of the HSR waiting period as well as the satisfaction of other customary closing conditions.
