Essilor Acquisition of FGX Clears Anti-trust Hurdle

Essilor International’s proposed merger of FGX International Holdings Limited cleared another hurdle when the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired with no comment from either the Federal Trade Commission or the U.S. Department of Justice.

The expiration of the waiting period satisfies a condition to the closing of the proposed acquisition.

The special meeting of FGX’s shareholders to vote on the proposed acquisition is scheduled for Tuesday, March 9, 2010 and will be held at FGX’s headquarters, 500 George Washington Highway, Smithfield, Rhode Island at 10:00 a.m. EST.

As previously announced on Dec. 16, 2009, Essilor and FGX have entered into a definitive agreement pursuant to which Essilor will acquire all of the outstanding ordinary shares of FGX for $19.75 per share in cash. Subject to the satisfaction of the remaining conditions to closing, the transaction is expected to close in the first quarter of 2010. Essilor is the largest maker of corrective eye lenses based in Paris. The purchase price amounts to $465 million.