Business
Acquisition update
Acquisition update.
About this update from Avon Technologies Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9397Z\n Avon Rubber PLC\n 24 September 2020\n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n For Immediate Release\n AVON RUBBER P.L.C.\n PROPOSED ACQUISITION OF TEAM WENDY - UPDATE ON HSR CONDITION\n 24 September 2020\n Further to the announcement made by Avon Rubber p.l.c. (\"Avon Rubber\" or the \"Company\") on 9 September 2020 regarding the proposed acquisition of Team Wendy, LLC (\"Team Wendy\") (the \"Acquisition\"), Avon Rubber announces that on 23 September 2020 it refiled its pre-merger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (\"HSR\") in connection with the Acquisition.\n Following the refiling of its pre-merger notification, Avon Rubber continues to expect the Acquisition to complete in the first quarter of its 2021 financial year.\n As noted in the circular, published by Avon Rubber on 11 September 2020 (the \"Circular\"), Avon Protection and the Sellers each filed a Notification and Report Form with respect to the Acquisition with the U.S. Federal Trade Commission (the \"FTC\") and the U.S. Department of Justice (the \"DoJ\") on 24 August 2020. Avon Protection withdrew its original Notification and Report Form and refiled on 23 September 2020. The refiling will set a new 30-day period for review by the FTC, which will expire at the end of the day on 23 October 2020. Withdrawing and refiling pre-merger notifications is a common procedure used by applicants to provide additional time for agencies to complete antitrust reviews.\n The Acquisition remains conditional upon the satisfaction or, if permitted, waiver of the remaining conditions to the Acquisition contained in the Circular.\n The defined terms set out in the Circular have the same meaning herein.\n For further enquiries please contact:\n \n \n Avon Rubber p.l.c. +44 1225 896 848\n Paul McDonald, Chief Executive Officer\n Nick Keveth, Chief Financial Officer\n Ryan Mahoney, Deputy Chief Financial Officer\n \n Evercore Partners International LLP ...