- Valvoline Inc. (VVV, Financial) received a Second Request from the FTC, extending the regulatory review period for its acquisition of Breeze Autocare.
- The transaction is expected to close in the second half of fiscal 2025, pending regulatory approval and customary closing conditions.
- The Hart-Scott-Rodino Act waiting period will be extended until 30 days after compliance with the FTC's request.
Valvoline Inc. (VVV) has officially announced receiving a Second Request for Additional Information and Documentary Material from the U.S. Federal Trade Commission (FTC), concerning its proposed acquisition of Breeze Autocare from Greenbriar Equity Group. This action indicates increased regulatory scrutiny, extending the initial waiting period stipulated under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).
The completion of Valvoline's acquisition remains contingent on the expiration or termination of the HSR Act waiting period, alongside the satisfaction of other customary closing conditions. Valvoline is proactively collaborating with the FTC to address the regulatory hurdles and anticipates that the acquisition will finalize in the latter half of fiscal year 2025.
This Second Request implies that the FTC's review process could potentially extend the timeline for finalizing the transaction, which remains subject to regulatory approval. Despite this, Valvoline is committed to navigating these regulatory requirements to facilitate the completion of the acquisition as efficiently as possible.
