7 August 2007
U.S. FTC and EU Commission approve acquisition of Hanson
HeidelbergCement achieves important progress in Hanson acquisition
On 3 August 2007, the U.S. Federal Trade Commission (FTC) granted an early termination under the Hart-Scott-Rodino Act to the proposed acquisition of Hanson PLC by HeidelbergCement (the “Acquisition”). The European Commission has approved the Acquisition on 7 August 2007.
The closing of the Acquisition is subject to final hearings by the High Court of Justice in England and Wales, which are due to occur on 20 August and 23 August 2007.
“The approvals by the competition authorities are crucial steps for meeting our challenging time schedule,“ explains Dr. Bernd Scheifele, CEO of HeidelbergCement. “We are confident that the closing of the transaction will take place – as scheduled – by the end of August. At the beginning of September we are going to concentrate with full power on the integration of Hanson.”