Axsys Technologies [AXYS] yesterday said that its pending purchase by General Dynamics [GD] has been granted early termination of the mandatory waiting period under the federal government’s Hart-Scott-Rodino Antitrust regulations.
The proposed $643 million deal must still be approved by Axsys stockholders and meet other routine closing conditions. Axsys has scheduled a special stockholder meeting for Sept. 1 for a vote on the acquisition.
Axsys said that both companies continue to expect the deal to close by the end of September.
GD announced the planned acquisition in June (Defense Daily, June 5). The deal would expand GD’s offering of sensors and imaging systems. Axsys designs and manufactures surveillance cameras, imaging systems and related motion control technologies for the aerospace, defense and commercial markets.