SPRINGFIELD, Mo. and PHOENIX -- The Federal Trade Commission has granted early termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976 for O’Reilly’s proposed acquisition of CSK. Termination of the waiting period satisfies a condition to the closing of the proposed acquisition.
As previously announced on April 1, O’Reilly and CSK entered into a definitive agreement under which CSK shareholders will receive $11 of O’Reilly common stock, subject to a collar, plus $1 in cash (subject to potential reduction in certain circumstances) for each share of CSK common stock. Completion of the acquisition, which is expected in the summer of 2008, is subject to the satisfaction of other customary closing conditions.
