8-KOther Events

AGILENT TECHNOLOGIES, INC. 8-K Report, Corporate Update (Sep 15, 2009)

Filed September 15, 2009For Securities:A

Summary

Agilent Technologies, Inc. filed an 8-K report on September 15, 2009, to disclose that both Agilent and Varian, Inc. received a "second request" from the U.S. Federal Trade Commission (FTC) regarding Agilent's pending acquisition of Varian. This development means the regulatory review process for the acquisition will be extended, as the Hart-Scott-Rodino Act's waiting period is now suspended until Agilent and Varian substantially comply with the FTC's request. While this signifies a delay in the closing of the acquisition, Agilent has stated its intention to respond promptly to the second request. Investors should monitor the progress of this FTC review as it is a critical factor influencing the completion of the Varian acquisition and its potential impact on Agilent's future growth and market position.

Key Highlights

  • 1Agilent Technologies and Varian, Inc. received a "second request" from the FTC for information related to Agilent's proposed acquisition of Varian.
  • 2The "second request" from the FTC is a standard part of the Hart-Scott-Rodino Act review process for mergers and acquisitions.
  • 3This request extends the waiting period imposed by the Hart-Scott-Rodino Act, delaying the potential closing of the acquisition.
  • 4The waiting period will remain suspended until Agilent and Varian substantially comply with the FTC's information request.
  • 5Agilent Technologies has indicated its intention to respond promptly to the FTC's second request.
  • 6The FTC's review is a key regulatory hurdle for the completion of the acquisition.

Frequently Asked Questions

A "second request" is a formal request for additional information and documentary material made by the U.S. Federal Trade Commission (FTC) during its review of a merger or acquisition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. It indicates that the FTC requires more time and details to assess the potential antitrust implications of the transaction.

The "second request" extends the waiting period mandated by the Hart-Scott-Rodino Act. This means the acquisition cannot close until the FTC has completed its review, which is contingent on Agilent and Varian providing substantial compliance with the information request. The earliest the waiting period can end is 30 days after substantial compliance, unless extended by the parties or terminated by the FTC.

Agilent Technologies has stated its intention to respond promptly to the FTC's "second request." This suggests they are prepared to provide the necessary information to move the regulatory review process forward as efficiently as possible.

For investors, this "second request" signifies a delay in the completion of the Varian acquisition. The ultimate impact will depend on the FTC's findings and the time it takes for Agilent to satisfy the request. Investors should monitor news related to the FTC's review for any updates that could affect the deal's closure and Agilent's strategic growth plans.