Business
Satisfaction of CFIUS Conditi
Satisfaction of CFIUS Conditi.
About this update from Babcock International Group Plc
[{"type":"text","content":"\n RNS Number : 3115M Babcock International Group PLC 21 May 2010 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\nFor immediate release\n21 May 2010\nRecommended Acquisition of VT Group plc by Babcock International Group PLC - \nSatisfaction of Condition\n \nOn 26 April 2010, the boards of Babcock International Group PLC (\"Babcock\") and VT Group plc (\"VT\") announced the publication and posting of offer documentation, and the convening of Court and shareholder meetings, in connection with the recommended acquisition by Babcock of the entire issued and to be issued share capital of VT to be effected by a Court-sanctioned scheme of arrangement (the \"Acquisition\").\nBabcock and VT are pleased to announce that they have obtained confirmation from the Committee on Foreign Investment in the United States (\"CFIUS\") that there are no unresolved US national security concerns with respect to the Acquisition, and that CFIUS has concluded its review of the Acquisition on that basis. Accordingly the related CFIUS condition to the Acquisition has been satisfied.\nThis follows early termination of the waiting period being granted in respect of the Acquisition under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976 (and the regulations made thereunder), as announced by Babcock and VT on 20 April 2010. The Acquisition remains conditional upon the satisfaction or, if permitted, waiver of the remaining conditions to the Acquisition contained in the announcement by Babcock and VT on 23 March 2010.\n- Ends - \nThe distribution of this announcement in jurisdictions other than the United Kingdom and the availability of any offer to VT shareholders who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions. Therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom or VT shareholders who are not resident in the United Kingdom will need to inform themselves about, and observe, any applicable requirements.\nBabcock shares have not been and are not currently intended to be registered under the securities laws or regulations of the United States, Australia, Canada or Japan, and may not be off...