Offshore helicopter operator Bristow and its peer Era Group are one step closer to closing their previously announced merger after clearing an antitrust hurdle.
Bristow and Era Group made a deal to merge in an effort to create a more diverse and financially stronger player back in January 2020. The combined company will be named Bristow.
In connection with the proposed merger, on 6 February 2020, Era and Bristow each filed a premerger notification and report form under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the HSR Act) with the Antitrust Division of the Department of Justice and the Federal Trade Commission.
On 11 March 2020, Era re-filed its HSR premerger notification and report form. On 10 April 2020, the waiting period with respect to the HSR Act expired.
The expiration of the waiting period under the HSR Act satisfies a condition to the closing of the merger, according to a statement by the two companies.
However, the closing of the merger remains subject to other customary closing conditions. These include the approval of the merger by Bristow’s stockholders and the approval of the issuance of the shares in the merger by Era’s stockholders.
Photo source: Flickr; Author: Ronnie Robertson – under the CC BY-SA 2.0 license