Feds OK Philips acquisition of Intermagnetics

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The planned $1.3 billion purchase by Royal Philips Electronics of Intermagnetics General Corp. has been cleared upon the completion of an antitrust review waiting period, and thus has the federal government’s seal of approval.

The deal, which the companies hope will close in Q4 of this year, still must pass through merger agreement conditions, Intermagnetics' shareholders, and European regulatory clearance, the Business Journal of Milwaukee reports. Intermagnetics makes patient monitors, imaging systems components, radio frequency coils for MRI systems and radio frequency imaging coils for the medical technology industry.