FTC Wants More Details On Carpenter's $558M Latrobe Buy

Law360, New York (August 8, 2011, 10:07 PM EDT) -- Pennsylvania-based steel and alloy manufacturers Carpenter Technology Corp. and Latrobe Specialty Metals Inc. announced on Monday that the Federal Trade Commission had requested more details about Carpenter's deal to buy its rival for $558 million.

The FTC's second request for information on the proposal adds another 30 days to the waiting period before the transaction can legally be made under the Hart-Scott-Rodino Antitrust Improvements Act, which prohibits parties in a large merger or acquisition from closing the deal until the waiting period has passed or the...
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