Teledyne Technologies has announced that it received antitrust clearance for the pending acquisition of FLIR Systems, from regulatory authorities in Canada and Germany.
On Wednesday, March 31, Teledyne received a No-Action Letter regarding the proposed acquisition from the Competition Bureau of the Government of Canada. After that Teledyne received a clearance letter from the Federal Cartel Office of Germany. Having received the No-Action Letter and clearance letter, Teledyne has now obtained antitrust clearance from the respective regulatory authorities in Canada and Germany.
Previously, Teledyne obtained antitrust clearance in the US on March 1, 2021, when termination of the waiting period under the Hart-Scott-Rodino (“HSR”) Antitrust Improvements Act of 1976 occurred. Subject to the receipt of additional required regulatory approvals in Poland, Turkey, China, and South Korea, the transaction is expected to close in the second quarter of 2021.
In addition, all permanent financing for the pending acquisition was completed on March 22, 2021. Financing consisted of US$3.00 billion of investment-grade bonds due 2023 through 2031, as well as a US$1.00 billion Term Loan Credit Agreement and an Amended and Restated Credit Agreement with capacity of US$1.15 billion both maturing in 2026.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI