Gothenburg, Sweden, 08 October, 2013: SKF has received anti-trust approvals in the USA and Germany regarding the company’s acquisition of Kaydon Corporation (NYSE:KDN). Given the current U.S. federal government shutdown, SKF has waived the condition for approval of the Committee on Foreign Investment in the United States (CFIUS) under U.S. national security regulations. SKF anticipates that administrative delays will lengthen the period for clearance, however, it has not been notified of any concerns or issues in the review process.
All other terms and conditions of the tender offer remain unchanged. The tender offer and any withdrawal rights to which Kaydon’s stockholders may be entitled is scheduled to expire at 11:59 p.m., Eastern Time, on 15 October, 2013, unless extended or earlier terminated.
As previously announced on 16 September, 2013, SKF, through its wholly-owned subsidiaries, Dublin Acquisition Sub Inc. and Atlas Acquisition, Inc., commenced a tender offer for all outstanding shares of Kaydon Corporation (Kaydon) for USD 35.50 per share in cash.
