Pentair, Inc. (PNR) said Wednesday that it has received notification of early termination of the U.S. antitrust waiting period in connection with the proposed deal to combine the flow control business of Tyco International Ltd. (TYC) with Pentair in a tax-free, all-stock merger.
The deal was announced last month.
The expiration of the HSR Act waiting period satisfies one of the conditions to closing of the merger, which remains subject to approval of the spin-off by Tyco shareholders, the approval of the merger by Pentair shareholders, foreign regulatory approvals and other customary closing conditions.
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