FDC/FFM say second request by FTC on merger is "routine".HACKENSACK Hackensack, city, United States Hackensack, city (1990 pop. 37,049), seat of Bergen co., NE N.J., on the Hackensack River, a residential and industrial suburb of New York City; settled 1647, inc. as a city 1921. , N.J.--(BUSINESS WIRE)--July 17, 1995--First Data Corporation (NYSE NYSE See: New York Stock Exchange : FDC FDC - Floppy Disk Controller ) and First Financial Management (NYSE: FFM FFM Frankfurt Am Main FFM Fat-Free Mass (muscle) FFM Female Female Male FFM Full Face Mask (diving) FFM Final Fantasy Movie FFM Fundus Flavimaculatus FFM Frequent Flyer Mile(s) ) today said that they received a notice of second request for information from the Federal Trade Commission regarding their proposed merger. The companies said they had anticipated a second request and considered it routine. "We expected that a merger with a value of approximately $6.7 billion would receive full scrutiny," the companies said. "We are still confident that the transaction will receive all the required approvals and close during the fourth quarter of 1995 or the first quarter of 1996." The companies announced their plans to merge on June 13. First Data Corp. is a leading provider of high-quality, high-volume information processing information processing: see data processing. information processing Acquisition, recording, organization, retrieval, display, and dissemination of information. Today the term usually refers to computer-based operations. and related services to the transaction card, payment instruments, mutual fund teleservices, receivable and information management industries. In 1994, the company had net income of $208 million on revenue of $1.7 billion. CONTACT: First Data Corp, Hackensack Gary P. Tobin, 201/525-4707 |
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