Waiting period terminated in Siemens' CTI Molecular acquisition
Siemens Medical Solutions Inc., headquartered in Malvern, Pa. and Erlangen, Germany, and CTI Molecular Imaging Inc. have announced the early termination of the antitrust waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The Federal Trade Commission (FCC) has granted the end of the 15-calendar day waiting period upon Siemens' request, the company said.
Additionally, The German Federal Cartel Office has this week informed Siemens that the request for early termination of the waiting period also prescribed by the German Act Against Restraints on Competition has been approved, Siemens said.
The previously announced tender offer includes the acquisition of all issued and outstanding shares of CTI Molecular Imaging Inc. and is expected to close in the second quarter of 2005. The board of directors of each company has agreed to the terms of the agreement.
Additional details of the merger have not thus far been disclosed.