LB Foster, Portec Extend Merger Deadline

Law360, New York (August 31, 2010, 7:48 PM EDT) -- LB Foster Co. and Portec Rail Products Inc. have extended the so-called drop-dead date of their proposed merger until Dec. 30, while U.S. Department of Justice antitrust concerns still threaten to derail the deal.

LB Foster agreed in May to delay the merger while the DOJ reviewed possible anti-competitive issues after both companies received second requests from the government for more information on the deal. LB Foster revealed in a statement Monday that it plans to rid itself of the suspect segment of its operations....
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