The antitrust review of the pending merger between FMC Technologies Inc. (NYSE: FTI) and Technip (Euronext: TEC) from the United States antitrust regulators under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 is complete.
The merger agreement between the two companies was announced on May 19, 2016. On June 16, 2016, the companies announced that they had executed a Business Combination Agreement regarding their proposed merger.
Conclusion of antitrust review in the United States under the HSR Act satisfies one of the closing conditions of the pending transaction, which remains subject to other closing conditions, including approval of Technip and FMC Technologies shareholders, the conclusion of antitrust review in other countries, other regulatory approvals and consents, as well as other customary closing conditions.
The transaction is expected to close early in 2017, subject to the satisfaction of these other closing conditions.