FTC Challenges Deal Based on Future Competition Concerns* On May 29, 2015, the Federal Trade Commission (“FTC”) issued an administrative complaint alleging that Steris Corporation’s (“Steris”) proposed $1.9 billion acquisition of Synergy Health plc (“Synergy”) would violate the antitrust laws by significantly reducing future competition in regional markets for sterilization of products using radiation, particularly gamma or x-ray radiation. Background On October 13, 2014, Steris, headquartered in Mentor, Ohio, announced its intention to acquire Synergy, headquartered in the United Kingdom. On January 9, 2015, the parties received request for additional information and documentary material (“second requests”). On April 30, 2015, the parties announced that they certified compliance and
The US FTC challenges a merger in regional markets for sterilization of products using radiation based on future competition concerns (Steris / Synergy Health)
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