P.M. BRIEFING : Autoclave Withdraws Tylan Offer
<i> From Times wire services</i>
ERIE, Pa. —
Autoclave Engineers Inc. said today it has withdrawn its tender offer for Torrance-based Tylan Corp. after the Federal Trade Commission’s decision to block the acquisition on antitrust grounds.
“The process of proving our case in court . . . would be time-consuming and disruptive to our employees and would create uncertainty for our customers and suppliers,” said Thomas Guelch, Autoclave’s chief financial officer.
