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US: Steris, Synergy Health $1.9 billion takeover delayed

By  |  April 30, 2015

Steris Corp.’s planned $1.9 billion purchase of Synergy Health PLC of the United Kingdom continues to be tied up in the U.S. antitrust process, and as a result, both companies said they will delay shareholder meetings to vote on the deal by about a month.

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    In a news release, Mentor-based Steris and Synergy said they have “certified substantial compliance” with the US Federal Trade Commission’s request for additional information and have “agreed not to close the combination before June 2” unless the FTC first closes its investigation.

    As a result, Steris said it will move its shareholder meeting, currently scheduled for May 12, to June 11. Synergy also intends to reschedule its shareholder meeting to the same date.

    “We remain firmly committed to the completion of this transaction, and have been working diligently toward that end,” said Walt Rosebrough, president and CEO of Steris, in a statement. “While the timeline has been delayed, we are excited about the combination and continue to believe that the strategic rationale for the deal is compelling.”

     

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