Collection and BPO powerhouse NCO Group (Nasdaq: NCOG) said late Tuesday it has been notified by the Federal Trade Commission (FTC) that the company?s proposed buyout, led by chairman and CEO Michael Barrist, has been cleared by both the FTC and Justice Department under antitrust review.


The FTC sent NCO notice that it was ending the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 a full three weeks early, thus effectively ending the review of the merger by the FTC and Justice Department.


This first regulatory hurdle was not expected to cause NCO any problems.


In May, NCO announced that it had received an offer from Barrist and One Equity Partners ? a unit of JPMorgan Chase ? to buy all outstanding shares of the company and take it private. The transaction is valued at around $1.2 billion. The deal is expected to be completed in the fourth quarter of 2006.


The merger still remains subject to shareholder approval, including the approval of the non-management participants, voting as a separate class, closing of the debt financing and other regulatory approvals, as well as the satisfaction of customary closing conditions the company said.


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