3M gets Austrian Federal clearance Ceradyne acquisition

3M gets Austrian Federal clearance for Ceradyne acquisition

5:37 AM, 19th November 2012
3M gets Austrian Federal clearance for Ceradyne acquisition

ST PAUL, US: 3M received clearance from the Austrian Federal Competition Authority with respect to its previously announced tender offer for all issued and outstanding shares of common stock of Ceradyne Inc at a price of $35.00 per share. The US Federal Trade Commission previously granted early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, on 15 October 2012, and 3M received clearance from the German Federal Cartel Office on 30 October 2012.

With the receipt of the above clearances, the condition of the Offer with respect to clearance under applicable antitrust and competition laws has been completely satisfied. The Offer remains subject to the satisfaction of certain other conditions. The Offer is scheduled to expire at 5:00 PM (New York City time) on 27 November 2012 unless the Offer is extended.

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