Columbia Sportswear Company announced that on May 12th the U.S. Federal Trade Commission granted early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) with respect to the company’s previously announced proposed acquisition of prAna Living, LLC from majority owner Steelpoint Capital Partners and all other minority members for $190 million in cash.
Early termination of the HSR Act waiting period satisfies one of the conditions to the closing of the transaction, which is expected to occur during the second quarter of 2014, subject to the satisfaction of other customary conditions.
In addition to the Columbia® brand, Columbia Sportswear Company also owns the outdoor brands Mountain Hardwear®, Sorel®, Montrail® and OutDry®.
