No second request expected in Boeing-KLX antitrust review in US
16 July 2018. By Flavia Fortes.
US antitrust authorities are not expected to issue a request for additional information concerning Boeing's proposed acquisition of KLX, MLex has learned.
The deadline under the Hart-Scott-Rodino Act is set to expire on Tuesday, and it’s understood officials won’t find it necessary to take a further look into the transaction.
The companies filed antitrust paperwork on May 14, but pulled and refiled on June 15 to give officials additional time for the review.
Boeing announced its acquisition of aircraft parts distributor KLX in May. The deal combines KLX with Boeing’s own parts distribution unit, Aviall, and though they overlap in the supply of fasteners, the parties likely pointed out that there are many other competitors for these commoditized products.
The deal also requires clearance from the European Commission, Turkey, Israel, Colombia and South Korea.
The purchase of KLX is expected to close by the third quarter, subject to shareholder and regulatory approvals.
Shares in Boeing are listed on the New York Stock Exchange. KLX is listed on Nasdaq.