Injunction Lifted On LB Foster's $112M Portec Buy

Law360, New York (June 29, 2010, 4:23 PM EDT) -- A Pennsylvania judge has lifted an injunction blocking LB Foster Co.'s $112 million bid for Portec Rail Products Inc., but the U.S. Department of Justice still has antitrust concerns about the tie-up between the two rail components manufacturers, the companies said.

Judge Christine A. Ward of the Court of Common Pleas of Allegheny County dissolved the preliminary injunction Thursday after the Portec shareholders who had sued over concerns with the companies' initial disclosure agreed not oppose the move.

The injunction had been in place since April,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.