U.S. formally ends fight with Steris over Synergy merger
By Diane Bartz
WASHINGTON, Oct (HKSE: 3366-OL.HK - news) 7 (Reuters) - U.S (Other OTC: UBGXF - news) . antitrust enforcers on Wednesday formally dropped opposition to U.S. medical technology firm Steris Corp (NYSE: STE - news) 's plan to merge with British sterilization services provider Synergy Health Plc (Other OTC: SYHEF - news) .
The Federal Trade Commission issued a brief order withdrawing the matter from its internal administrative process after a district court in September declined its request to temporarily stop the $1.9 billion deal pending an internal process.
Steris announced the transaction in October 2014, saying it wanted to expand its footprint in Europe and move to the United Kingdom in order to slash its tax bill. (Reporting by Diane Bartz; Editing by Alan Crosby)