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Synergy update on STERIS combination

21 September 2015 13:39

Synergy Health is taking steps to reconvene court and general meetings to facilitate a timely closing of the combination with STERIS in the event that the US Federal Trade Commission's request to block it is defeated.

On 29 May, the FTC issued an administrative complaint, alleging that the combination would violate US antitrust laws, and filed a complaint in the US District Court for the Northern District of Ohio seeking a preliminary injunction to block the combination pending an administrative trial.

On 17-19 August, the Honourable Dan Aaron Polster held an evidentiary hearing on the FTC's request for a preliminary injunction.

As at close of business on 18 September there has not yet been a decision on the FTC's request for a preliminary injunction.

However, Synergy is now taking steps to convene the Reconvened Court Meeting and Reconvened General Meeting to facilitate a timely closing of the Combination in the event that the Court denies the FTC's request.

The steps being taken to reconvene the meetings should not be taken by Shareholders as any indication of the likely decision of the Court. Synergy will make a further announcement once the decision of the Court is available.

If the Combination proceeds it has been agreed with STERIS that Synergy will declare and pay a dividend of 15.8 pence per share before the closing of the Combination.

At 1:39pm: (LON:SYR) Synergy Health PLC share price was +24.5p at 1534.5p

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