F.T.C. clears Lance-Snyder's transaction
August 18, 2010
by Eric Schroeder
CHARLOTTE, N.C. — The U.S. Federal Trade Commission has granted clearance to Lance, Inc. and Snyder’s of Hanover, Inc. via early termination of the review process under the Hart-Scott-Rodino Antitrust Improvements Act for the companies previously announced proposed merger. The merger is expected to be completed in the fourth quarter of this year and is still subject to shareholder approval by Lance and Snyder’s stockholders.
“We are pleased with the quick and orderly review of our proposed merger by the Federal Trade Commission and their decision for early termination,” said Carl E. Lee Jr., president and chief executive officer of Snyder’s.
David V. Singer, president and c.e.o. of Lance, said he remains “very excited” about the potential strength and scale of the combined companies and the value that the merger will bring to the company’s consumers, customers and shareholders.