GE Gets FTC Nod For $3.3B Deal For Oil Service Co. Lufkin

Law360, Chicago (May 3, 2013, 2:18 PM EDT) -- General Electric Co. has received U.S. antitrust clearance for its deal to acquire Houston-based energy services company Lufkin Industries Inc. in a roughly $3.3 billion deal, the Federal Trade Commission said Friday.

The FTC published a notice saying it had granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

The statute calls for a 30-day waiting period, but early termination requests can be granted if the FTC and the U.S. Department of Justice's Antitrust Division have finished reviewing the deal...
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