US: Incipio gets early approval from FTC on Skullcandy buy

Incipio, LLC today announced that the Federal Trade Commission has granted early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its cash tender offer to purchase all of the outstanding shares of common stock of Skullcandy.

As previously announced, Incipio and Skullcandy entered into a definitive agreement contemplating the acquisition of Skullcandy by Incipio via a tender offer to acquire all of the outstanding shares of Skullcandy’s common stock at a price of $5.75 per share in cash. The termination of the HSR Act waiting period satisfies one of the conditions to consummate the tender offer. Other closing conditions remain, including, among others, a minimum tender of a majority of the issued and outstanding shares of Skullcandy’s common stock.

The tender offer will remain open for Skullcandy stockholders to tender their shares of common stock until midnight EDT at the end of the day on Tuesday, August 2, 2016, unless extended. Complete terms and conditions of the tender offer can be found in the Offer to Purchase, Letter of Transmittal and other related materials filed with the Securities and Exchange Commission (the “SEC”) on July 6, 2016.

Full Content: Socal Tech

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