Graco Must Sell ITW Unit Before $650M Buy, FTC Says

Law360, New York (May 31, 2012, 6:56 PM EDT) -- The Federal Trade Commission said Thursday that industrial fluid spray maker Graco Inc. would have to sell off Illinois Tool Works Inc.'s liquid finishing equipment business to get final approval of Graco's proposed $650 million purchase of several other ITW operations.

The regulator dropped its suit blocking the merger in March, but also ordered Graco to run ITW's liquid finishing unit as an independent and competitive business while it considered if the company would have to divest the unit entirely. Thursday's order goes a step further,...
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