Federal Trade Commission Grants Early Termination Of Waiting Period For Acquisition Of Intermec By Honeywell International Inc.
Intermec, Inc. (NYSE:IN) today announced that it had received
notification from the Federal Trade Commission (“FTC”) that because the
FTC’s investigation of the previously announced potential acquisition of...
Intermec, Inc. (NYSE:IN) today announced that it had received notification from the Federal Trade Commission (“FTC”) that because the FTC’s investigation of the previously announced potential acquisition of Intermec (the “Merger”) by Honeywell International Inc. (“Honeywell”) had been concluded based on the consent decree relating to the Merger approved by the FTC on September 13, 2013, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to the Merger had been terminated. As previously disclosed the Merger was approved by Intermec’s stockholders on March 19, 2013 and received regulatory approval from the European Commission on June 14, 2013. FTC clearance is the final regulatory approval expected and Intermec expects to complete the Merger by September 17, 2013, subject to the satisfaction or waiver of the remaining closing conditions relating to the Merger. Forward-Looking Statements Statements made in this current report and related statements that express Intermec’s, our management’s or others’ intentions, hopes, indications, beliefs, expectations, guidance, estimates, forecasts, or predictions of the future constitute forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, and relate to matters that are not historical facts. The forward-looking statements contained herein include, without limitation, statements regarding: the satisfaction or waiver of closing conditions relating to the Merger; and the timing of completion of the Merger, if at all. When used in this document and in documents it refers to, the words “anticipate,” “believe,” “will,” “intend,” “project,” and “expect,” and similar expressions as they relate to us or our management or others are intended to identify such forward-looking statements. These statements represent beliefs and expectations only as of the date they were made. We may elect to update forward-looking statements, but we expressly disclaim any obligation to do so, even if our beliefs and expectations change.
Intermec (NYSE:IN) hit a new 52-week low Monday as it is currently trading at $6.18, below its previous 52-week low of $6.20 with 141,702 shares traded as of 2:30 p.m. ET. Average volume has been 431,100 shares over the past 30 days.