3M (MMM) Clears Final Regulatory Hurdle in Ceradyne (CRDN) Acquisition
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3M (NYSE: MMM) announced today that on November 15, 2012, it received clearance from the Austrian Federal Competition Authority with respect to its previously announced tender offer for all issued and outstanding shares of common stock of Ceradyne, Inc. (NASDAQ: CRDN) at a price of $35.00 per share (the “Offer”). The U.S. Federal Trade Commission previously granted early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, on October 15, 2012, and 3M received clearance from the German Federal Cartel Office on October 30, 2012. With the receipt of the above clearances, the condition of the Offer with respect to clearance under applicable antitrust and competition laws has been completely satisfied.
The Offer remains subject to the satisfaction of certain other conditions. The Offer is scheduled to expire at 5:00 P.M. (New York City time) on Tuesday, November 27, 2012, unless the Offer is extended.
The Offer remains subject to the satisfaction of certain other conditions. The Offer is scheduled to expire at 5:00 P.M. (New York City time) on Tuesday, November 27, 2012, unless the Offer is extended.
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