May. 30 at 10:00 PM
$CMCO $KKR Columbus McKinnon says DOJ requests more information on Kito deal
In a regulatory filing, Columbus McKinnon stated, "As previously disclosed, on February 10, 2025, Columbus McKinnon entered into a Stock Purchase Agreement with Kito Crosby Limited, the equityholders of Kito, and Ascend Overseas Limited, pursuant to which Columbus McKinnon agreed to acquire all of the issued and outstanding equity of Kito. In connection with the Acquisition, Columbus McKinnon and KKR North America Fund XI L.P., the ultimate parent entity of Kito, each filed the required notification and report forms under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with the Antitrust Division of the U.S. Department of Justice and the Federal Trade Commission.
On May 28, 2025, Columbus McKinnon and KKR each received a request for additional information and documentary material from the Antitrust Division in connection with the Antitrust Division's review of the Acquisition. The issuance of the Second Request extends the waiting period under the HSR Act until 30 days after both Columbus McKinnon and KKR have substantially complied with the Second Request, unless the waiting period is voluntarily extended by the parties or terminated earlier by the Antitrust Division.
The parties have been working collaboratively with the Antitrust Division to bring its review of the Acquisition to a close as expeditiously as possible and will continue to do so. Completion of the Acquisition remains subject to the expiration or termination of the waiting period under the HSR Act and the satisfaction or waiver of the other customary closing conditions set forth in the Purchase Agreement."
