MILAN, Italy and FOOTHILL RANCH,
Calif.—Luxottica Group S.p.A. (NYSE: LUX; MTA: LUX) and
Oakley, Inc. (NYSE: OO) jointly announced this afternoon that the
United States Federal Trade Commission granted early termination on
Aug. 24, 2007 of the waiting period under the Hart-Scott- Rodino
Antitrust Improvements Act (HSR) in connection with Luxottica
Group's proposed acquisition of Oakley, Inc., without a second
request for additional information.
Termination of the HSR waiting period satisfies one of the
conditions to the closing of the transaction as specified in the
Merger Agreement dated June 20, 2007 among Luxottica Group, its
merger subsidiary, and Oakley.
Luxottica Group and Oakley noted that other conditions to the
closing specified in the Merger Agreement still remain outstanding,
including obtaining certain antitrust and competition law
clearances outside of the U.S. as well as the required approval of
the transaction by Oakley's shareholders at a special meeting to be
called and held for such purpose.
Luxottica Group and Oakley stated that they expect the transaction
to close in the fourth quarter of 2007.
August 2007