Planned Acquisition by Furon Survives FTC Waiting Period

Furon Co. said Wednesday that its planned $160-million acquisition of Ohio health-care products maker Medex Inc. has cleared a key regulatory hurdle.

The transaction, which has been approved by the board of each company, has generated no antitrust concerns among federal agencies during a Federal Trade Commission waiting period. The proposal still must be approved by holders of at least 60% of Medex’s shares.

Furon, a leading manufacturer of plastic and rubber industrial products, is seeking to acquire Medex as part of a plan to reduce the Laguna Niguel company’s exposure to the more volatile industrial market.

Medex, which has 1,100 employees, would continue to operate under its own name and with current management, a Furon spokesman said at the time the deal was announced.