Itron Receives Request for Additional Information from the Federal Trade Commission.Business Editors SPOKANE, Wash.--(BUSINESS WIRE)--Aug. 28, 2003 Itron Inc. (Nasdaq:ITRI ITRI Industrial Technology Research Institute (Taiwan, ROC) ITRI Information Technology Research Institute ITRI Inhalation Toxicology Research Institute ITRI International Tin Research Institute Ltd ITRI Information Technology Reuse Initiative ) announced today that it had received a request for additional pre-merger filing information (commonly known as a "second request") from the Federal Trade Commission (FTC FTC See Federal Trade Commission (FTC). ). This request is in connection with Itron and Schlumberger's filing under the Hart-Scott-Rodino Antitrust Improvements Act The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act. The HSR Act was signed into law by President Gerald R. of 1976 related to Itron's previously announced acquisition of Schlumberger's electricity metering business. The FTC request will result in an extension of the thirty-day waiting period under the Act, which was to expire on August 28, 2003. Once Itron has substantially complied with the second request, the FTC has another thirty-day waiting period to determine whether or not to oppose the acquisition. Itron intends to respond promptly to this second request. Itron remains confident that the acquisition will receive clearance from the FTC and expects the acquisition will close in the fourth quarter of this year. About Itron Itron is a leading technology provider and critical source of knowledge to the global energy and water industries. More than 2,800 utilities worldwide rely on Itron technology to deliver the knowledge they require to optimize the delivery and use of energy and water. Itron delivers value to its clients by providing industry-leading solutions for meter data collection, energy information management, demand side management and response, load forecasting, analysis and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" , transmission and distribution system design and optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. , web-based workforce automation, C&I customer care and residential energy management. To know more, start here: www.itron.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Statements about the expected timing of the acquisition are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These statements are subject to risks and uncertainties that may change, including timing of Hart-Scott-Rodino approval and satisfying other customary closing conditions. |
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