FTC Requests More Info from Intermec (IN), Honeywell (HON) in Proposed Merger

March 12, 2013 5:18 PM EDT
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On March 11, 2013, Intermec, Inc. (NYSE: IN) and Honeywell International Inc. (NYSE: HON) each received a request for additional information (the “Second Request”) from the U.S. Federal Trade Commission (“FTC”) in connection with Intermec’s previously announced proposed merger with Honeywell pursuant to the agreement and plan of merger, dated December 9, 2012, by and among Intermec, Honeywell, and Hawkeye Merger Sub Corp., a wholly owned subsidiary of Honeywell. The Second Request was issued pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”).

The effect of the Second Request is to extend the waiting period imposed by the HSR Act until 30 days after Intermec and Honeywell have substantially complied with the Second Request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.

Intermec intends to respond expeditiously to this request and to continue to work cooperatively with the FTC in connection with its review. Completion of the transaction remains subject to Intermec stockholder approval, regulatory approvals (including the expiration or termination of the waiting period under the HSR Act), and other customary closing conditions. Intermec continues to expect that the transaction will close by the end of the second quarter of 2013.

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