Outotec Oyj and Metso Corporation receive clearance from the United States Department of Justice for the combination of Outotec and Metso Minerals
Outotec Oyj (“Outotec”) and Metso Corporation (“Metso”) have on November 29, 2019, received clearance from the United States Department of Justice relating to the combination of Outotec and Metso’s Minerals business through a partial demerger of Metso (the “Combination”).
The waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to the proposed Combination, was terminated on Friday, November 29, 2019. This termination satisfies the condition to the completion of the Combination in respect of required United States competition clearances.
The completion of the Combination, which is expected to take place in the second quarter of 2020, remains subject to the statutory creditor hearing process and receipt of all required regulatory and other approvals, including other remaining competition clearances.