Wabtec Corp. and Faiveley Transport S.A. each received a request for additional information from the U.S. Department of Justice (DOJ) in connection with Wabtec’s pending acquisition of approximately 51% of Faiveley Transport from the Faiveley family and followed by a tender offer for the company’s public shares.
The second request is a standard part of the regulatory review process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the HSR Act) and was expected by Wabtec and Faiveley Transport.
The effect of the second request is to extend the waiting period imposed by the HSR Act until 30 days after Wabtec and Faiveley Transport have substantially complied with their respective request, unless that period is extended voluntarily by both parties or terminated sooner by the DOJ. Wabtec and Faiveley Transport will continue to cooperate fully with the DOJ as it reviews the proposed transaction.
In addition to the expiration of the waiting period under the HSR Act, the transaction remains subject to other regulatory approvals, as well as other customary closing conditions.