US antitrust enforcers on Wednesday formally dropped opposition to US medical technology firm Steris Corp’s plan to merge with British sterilization services provider Synergy Health Plc.
The Federal Trade Commission issued a brief order withdrawing the matter from its internal administrative process after a district court in September declined its request to temporarily stop the $1.9 billion deal pending an internal process.
Steris announced the transaction in October 2014, saying it wanted to expand its footprint in Europe and move to the United Kingdom in order to slash its tax bill.
Full content: Reuters
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