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US: Commission says it will not fight Steris loss in district court

By  |  October 4, 2015

US antitrust enforcers will not appeal a court ruling that said U.S. medical technology provider Steris Corp could proceed with a merger with British sterilization services provider Synergy Health Plc , a Federal Trade Commission spokesman said on Thursday.

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    The FTC filed a lawsuit in May aimed at stopping the proposed transaction, saying it would hurt customers by eliminating likely future competition based on new sterilization techniques. Last week a federal court in Ohio refused to block the $1.9 billion deal.

    “The commission has decided not to appeal the district court’s decision denying the preliminary injunction,” FTC spokesman Peter Kaplan said in a statement.

    Steris announced the transaction in October, saying it wanted to expand its footprint in Europe. The plan is for Cleveland-based Steris to buy out UK-based Synergy Health, with the combined company managed from Ohio but incorporated in Britain. Such “inversion deals” can allow US companies to get lower tax rates by reincorporating overseas.

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