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Helicopter Merger Nears Completion as HSR Waiting Period Ends

 |  April 14, 2020

Offshore helicopter players Era and Bristow, which recently announced plans to merge, have skipped a hurdle towards the completion of the merger.

Era said Tuesday that the waiting period for the proposed merger under the Hart-Scott-Rodino Antitrust Act ended on April 10, 2020.

The expiration of the waiting period under the HSR Act satisfies a condition to the closing of the merger, Era said.

“The closing of the Merger remains subject to other customary closing conditions, including the approval of the merger by Bristow’s stockholders and the approval of the issuance of the shares in the merger by Era’s stockholders,” the helicopter company added.

The two helicopter companies, specializing in providing transportation services to the offshore oil and gas industry, in January announce the plan to merge in an all-stock transaction that would create “a financially stronger company with enhanced size and diversification.” 

The merged company will have a combined fleet of more than 300 of the “industry’s most modern aircraft with the latest generation of technology and safety features”. It will become the world’s largest operator of S92, AW189, and AW139 model helicopters.

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