FTC Grants Early Termination of HSR Waiting Period for American Commercial Lines Merger
November 23 2010 - 7:00AM
Marketwired
American Commercial Lines Inc. (NASDAQ: ACLI)
("ACL" or the "Company"), one of the largest
and most diversified inland marine transportation and service
companies in the United States, today announced that the Federal
Trade Commission (FTC) has granted early termination of the waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended, relating to the proposed merger between ACL and
an affiliate of Platinum Equity.
About American Commercial Lines Inc.
American Commercial Lines Inc., headquartered in Jeffersonville,
Indiana, is an integrated marine transportation and service company
operating in the United States Jones Act trades, with approximately
$850 million in revenues and approximately 2,570 employees as of
December 31, 2009. For more information about American Commercial
Lines Inc., visit www.aclines.com.
About Platinum Equity Platinum Equity is a
global M&A&O® firm specializing in the merger, acquisition
and operation of companies that provide services and solutions to
customers in a broad range of business markets, including
information technology, telecommunications, logistics, metals
services, manufacturing and distribution. Since its founding in
1995 by Tom Gores, Platinum Equity has completed over 100
acquisitions with more than $27.5 billion in aggregate annual
revenue at the time of acquisition. For more information, go to
www.platinumequity.com.
Important Additional Information will be
filed with the SEC In
connection with the proposed transaction, American Commercial Lines
Inc. filed a definitive proxy statement, concerning the proposed
transaction with the SEC on November 15, 2010, which was
subsequently distributed to the Company's stockholders for purposes
of the Company's stockholder meeting scheduled for December 14,
2010. Investors and stockholders of American
Commercial Lines Inc. are urged to read the definitive proxy
statement because it contains important information about American
Commercial Lines Inc. and the proposed transaction.
Investors and stockholders may obtain a free copy of the
definitive proxy statement and any other relevant documents filed
or furnished by American Commercial Lines Inc. with the SEC (when
available) at the SEC's Web site, www.sec.gov. In addition,
investors and stockholders may obtain free copies of the documents
filed with the SEC by American Commercial Lines Inc. by contacting
American Commercial Lines Inc. by e-mail at
aclinesinvestor@aclines.com or by phone at 800-842-5491 or by going
to the investor relations portion of American Commercial Lines
Inc.'s website, www.aclines.com.
American Commercial Lines Inc. and its directors and certain
executive officers may be deemed to be participants in the
solicitation of proxies from American Commercial Lines Inc.
stockholders in respect of the proposed transaction. Information
about the directors and executive officers of American Commercial
Lines Inc. and their respective interests in American Commercial
Lines Inc. by security holdings or otherwise is set forth in the
definitive proxy statement described above.
Contact: David T. Parker Vice President, Investor Relations and
Corporate Communications (800) 842-5491
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