Serco and SI International announce expiration of waiting period under Hart-Scott-Rodino Act
Date : 17 October 2008
Serco Group plc (Serco) and SI International (NASDAQ: SINT) today announce that the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with the proposed acquisition of SI International by Serco, has expired without the US Department of Justice or the Federal Trade Commission requesting additional information relating to the proposed merger agreement. This satisfies a condition to completion of the proposed acquisition.
As announced on 27 August 2008, Serco has signed a definitive agreement to acquire SI International and the transaction has been approved by the boards of directors of both companies. The closing of the acquisition remains conditional upon SI International stockholders' approval, other regulatory approvals including Exon-Florio, and customary closing conditions. SI International's stockholder vote to adopt the merger agreement and approve the merger is scheduled for November 13, 2008. The proposed transaction is expected to be completed before the end of 2008.