A PYMNTS Company

US/UK: Steris and Synergy will contest FTC decision opposing merger

By  |  June 3, 2015

Steris has announced that together with Synergy Health plc, it will contest the U.S. Federal Trade Commission’s efforts to block the proposed merger of the two companies. This comes in response to an administrative complaint filed by the FTC. The Commission has claimed that the deal violates antitrust laws, as it may potentially reduce competition in the regional markets for sterilization of products using radiation.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    In Oct 2014, US-based Steris had proposed to buy U.K.-based Synergy Health for $1.9 billion in cash and stock. The acquisition aims at combining Steris’ Infection Prevention and Services with Synergy’s Hospital Sterilization Services business.

    The deal is in line with other tax inversion mergers announced last year that were targeted to cut down on the tax bills of US companies by shifting their tax base overseas.

    Full content: The National Law Review

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.