FTC Clears $166M Audiovox-Klipsch Deal

Law360, New York (February 24, 2011, 6:45 PM EST) -- Federal antitrust regulators gave early clearance Wednesday to Audiovox Corp.'s $166 million acquisition of speaker maker Klipsch Group Inc.

The Federal Trade Commission decided to terminate the review period for the deal under the Hart-Scott-Rodino Act early, the regulator said Thursday.

Announced Feb. 3, Audiovox's deal for the Indianapolis-based speaker and headphone manufacturer is being financed with a combination of cash and a new revolving credit facility. The facility, provided by Wells Fargo Capital Finance LLC, is based on both companies' assets and will also provide...
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