U.S., Germany OK Norton-Furon Deal
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Norton Co.’s planned acquisition of Laguna Niguel-based Furon Co. received U.S. antitrust approval and German regulatory approval, Furon said Monday.
Norton, a unit of France’s Compagnie de Saint Gobain, began a tender offer of $25.50 a share on Sept. 24 for Furon, which makes specialty plastic products for the commercial and health-care markets. The offer is scheduled to expire Friday.
The transaction, which would create one of the world’s biggest manufacturers of high-performance plastics used in the electronics, automotive, medical and food and beverage industries, is contingent on Norton’s obtaining 90% of Furon’s shares.
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