Matthews International Corporation Announces Expiration of HSR Waiting Period
Matthews International announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its proposed sale of SGK Brand Solutions. The transaction involves selling Matthews' interest in SGK to a newly formed entity created by affiliates of SGS & Co, which will combine SGK and SGS operations.
The company anticipates closing the transaction in the next quarter, pending receipt of remaining outstanding regulatory approvals and satisfaction of other customary closing conditions. This announcement marks a significant step forward in Matthews' divestiture process as the HSR waiting period expiration removes a key regulatory hurdle for the transaction.
Matthews International ha annunciato la scadenza del periodo di attesa ai sensi del Hart-Scott-Rodino Antitrust Improvements Act del 1976 per la sua proposta di vendita di SGK Brand Solutions. La transazione prevede la vendita dell'interesse di Matthews in SGK a un'entità di nuova formazione creata da affiliati di SGS & Co, che unirà le operazioni di SGK e SGS.
L'azienda prevede di chiudere la transazione nel prossimo trimestre, in attesa di ricevere le rimanenti approvazioni normative pendenti e la soddisfazione di altre condizioni consuete di chiusura. Questo annuncio segna un passo significativo nel processo di disinvestimento di Matthews, poiché la scadenza del periodo di attesa HSR rimuove un ostacolo normativo chiave per la transazione.
Matthews International anunció la expiración del período de espera bajo el Hart-Scott-Rodino Antitrust Improvements Act de 1976 para su propuesta de venta de SGK Brand Solutions. La transacción implica la venta del interés de Matthews en SGK a una entidad recién formada creada por afiliados de SGS & Co, que combinará las operaciones de SGK y SGS.
La compañía anticipa cerrar la transacción en el próximo trimestre, a la espera de recibir las aprobaciones regulatorias restantes y la satisfacción de otras condiciones habituales de cierre. Este anuncio marca un paso significativo en el proceso de desinversión de Matthews, ya que la expiración del período de espera HSR elimina un obstáculo regulatorio clave para la transacción.
매튜스 인터내셔널은 1976년 하트-스콧-로디노 반독점 개선법에 따른 대기 기간의 만료를 발표했습니다. 이는 SGK 브랜드 솔루션의 제안된 판매와 관련이 있습니다. 이 거래는 매튜스가 SGK에 대한 지분을 SGS & Co의 계열사들이 만든 신규 법인에 판매하는 것으로, SGK와 SGS의 운영을 통합할 것입니다.
회사는 남은 규제 승인과 기타 일반적인 종료 조건의 충족을 기다리며 다음 분기 내에 거래를 마무리할 것으로 예상하고 있습니다. 이 발표는 매튜스의 자산 매각 과정에서 중요한 진전을 나타내며, HSR 대기 기간의 만료는 거래에 대한 주요 규제 장벽을 제거합니다.
Matthews International a annoncé l'expiration de la période d'attente en vertu de la loi Hart-Scott-Rodino sur les améliorations antitrust de 1976 pour sa proposition de vente de SGK Brand Solutions. La transaction concerne la vente de l'intérêt de Matthews dans SGK à une entité nouvellement créée par des affiliés de SGS & Co, qui combinera les opérations de SGK et de SGS.
L'entreprise prévoit de finaliser la transaction au cours du prochain trimestre, sous réserve de la réception des approbations réglementaires restantes et du respect d'autres conditions de clôture habituelles. Cette annonce marque une étape significative dans le processus de désinvestissement de Matthews, car l'expiration de la période d'attente HSR supprime un obstacle réglementaire clé pour la transaction.
Matthews International hat das Ende der Wartefrist gemäß dem Hart-Scott-Rodino Antitrust Improvements Act von 1976 für den vorgeschlagenen Verkauf von SGK Brand Solutions bekannt gegeben. Die Transaktion umfasst den Verkauf von Matthews' Anteil an SGK an eine neu gegründete Einheit, die von Tochtergesellschaften von SGS & Co gegründet wurde, die die Operationen von SGK und SGS kombinieren wird.
Das Unternehmen rechnet damit, die Transaktion im nächsten Quartal abzuschließen, vorbehaltlich des Erhalts der verbleibenden ausstehenden regulatorischen Genehmigungen und der Erfüllung anderer üblicher Abschlussbedingungen. Diese Ankündigung stellt einen bedeutenden Fortschritt im Veräußnungsprozess von Matthews dar, da das Ende der HSR-Wartefrist ein wesentliches regulatorisches Hindernis für die Transaktion beseitigt.
- HSR waiting period expired for SGK Brand Solutions sale
- Transaction expected to close next quarter
- Key regulatory hurdle cleared for divestiture
- Sale still contingent on remaining regulatory approvals
- Divestiture of brand solutions business may impact revenue streams
PITTSBURGH, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Matthews International Incorporation ("Matthews" and/or the "Company") announced today the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its proposed sale of its interest in SGK Brand Solutions (“SGK”) to a newly formed entity created by affiliates of SGS & Co (“SGS”), which will combine SGK and SGS. The parties anticipate a closing next quarter, subject to the receipt of remaining outstanding regulatory approvals and the satisfaction of other customary closing conditions.
About Matthews International
Matthews International Corporation is a global provider of memorialization products, industrial technologies, and brand solutions. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets, cremation-related products, and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Industrial Technologies segment includes the design, manufacturing, service and sales of high-tech custom energy storage solutions; product identification and warehouse automation technologies and solutions, including order fulfillment systems for identifying, tracking, picking and conveying consumer and industrial products; and coating and converting lines for the packaging, pharma, foil, décor and tissue industries. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Company has over 11,000 employees in more than 30 countries on six continents that are committed to delivering the highest quality products and services.
Forward Looking Statements
Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, including statements regarding the anticipated timing and benefits of the proposed joint venture transaction, and may be identified by the use of words such as “expects,” “believes,” “intends,” “projects,” “anticipates,” “estimates,” “plans,” “seeks,” “forecasts,” “predicts,” “objective,” “targets,” “potential,” “outlook,” “may,” “will,” “could” or the negative of these terms, other comparable terminology and variations thereof. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations, and no assurance can be given that such expectations will prove correct. Factors that could cause the Company’s results to differ materially from the results discussed in such forward-looking statements principally include the possibility that the terms of the final award to be issued by the Arbitrator in the Tesla, Inc. (“Tesla”) dispute may differ from the terms of the interim award issued by the Arbitrator and may be challenged, our ability to satisfy the conditions precedent to the consummation of the proposed joint venture transaction on the expected timeline or at all, our ability to achieve the anticipated benefits of the proposed joint venture transaction, changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company’s products, including changes in costs due to adjustments to tariffs, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company’s operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company’s acquisitions, divestitures, and business combinations, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company’s internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company’s control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, the Company’s plans and expectations with respect to its exploration, and contemplated execution, of various strategies with respect to its portfolio of businesses, the Company’s plans and expectations with respect to its Board, and other factors described in the Company’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.
| Contact: | Steven F. Nicola |
| Chief Financial Officer and Secretary |
FAQ
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