Feds ask for more info on L.B. Foster-Portec merger
2012-03-28 23:04:53
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Federal regulators have made a second request for information regarding the merger of L.B. Foster Co. and Portec Rail Products.
As a result of the request, the waiting period for regulators to review the deal has been extended. Mergers are reviewed by the Antitrust Division of the Department of Justice to make sure companies do not gain a monopoly.
L.B. Foster, a Green Tree-based company, said its merger with Portec Rail Products of Pittsburgh would expand its rail supply business.
It is unclear how long the federal review process will take, but L.B. Foster cannot legally extend the merger process beyond June 15 unless Portec Rail agrees.
First Published March 23, 2010 9:34 am
