FTC calls early end to waiting period before GenTek sale to American Securities, Gentek says

GenTek says FTC finishes review of its sale

PARSIPPANY, N.J. — GenTek Inc., which provides chemical products and engine components, said Thursday that regulators completed a review of GenTek’s sale to a subsidiary of American Securities LLC.

The company, which provides chemical products and engine components, said the Federal Trade Commission declared an early end to a required review period. GenTek accepted an offer of $38 per share on Sept. 28 from American Securities’ ASP GT Acquisition Corp.

Gentek said it was informed of the FTC’s decision on Wednesday.

ASP’s tender offer for GenTek shares is scheduled to expire Oct. 27. The companies valued the deal at $673 million including debt. In Thursday afternoon trading, GenTek stock picked up 8 cents to $38.01.