Swiss-based Lonza Group has received antitrust clearance from the Autorité de la Concurrence in France for its tender offer, through its wholly owned subsidiary LG Acquisition, for all outstanding shares of biocides maker Arch Chemicals.
The tender offer is at a price of $47.20 a share in cash, without interest and withholding taxes agreeable to a previously announced merger agreement.
The tender offer remains subject to antitrust clearance in the US.
The closing of the tender offer is subject to customary terms and conditions, including antitrust clearances and the tender of more than two-thirds of Arch Chemicals' outstanding shares of common stock.
