Synergy Says FTC Seeks Additional Info On Merger With STERIS

(RTTNews) - Synergy Healthcare Plc. (SYR.L), which had announced regarding the recommended combination of Synergy with STERIS Corp. (STE) on October 13, 2014, Monday said the two firms have each received a request for additional information and documentary material, often referred to as a "second request," from the Federal Trade Commission or FTC in connection with the proposed combination.

Issuance of the second request extends the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, until 30 days after both parties have substantially complied with the second request, unless the waiting period is terminated earlier by the FTC.

Both companies are cooperating with the FTC staff in the review of the Merger. Although both Synergy and STERIS continue to work toward closing the Merger in the first quarter of calendar year 2015, as previously expected, the second request may extend the transaction timing beyond March 31, 2015.

The companies said in last October that they reached an agreement, under which Synergy shareholders will receive 439 pence in cash and 0.4308 new STERIS Shares for each Synergy share. The deal values the entire issued and to be issued share capital of Synergy at approximately 1.2 billion pounds or $1.9 billion.