Swindon-based outsourcer Synergy Health has again been forced to put back a meeting of shareholders as it awaits a Federal Trade Commission ruling on its £1.2bn acquisition by a major US healthcare group.
Ohio-based Steris Corporation launched its approved bid for Synergy, which provides services ranging from hospital laundry to sterilising sophisticated medical devices, nearly a year ago. 
The new, combined company would have a combined revenue of about $2.6bn and employ about 14,000 people in 60 countries.
But in May US regulators at the Federal Trade Commission (FTC) said they could block the move as being anti-competitive – an announcement that triggered a 20% fall in Synergy’s shares.
Now both Synergy and Steris have had to again postpone meetings at which they had hoped to gain final shareholder approval for the takeover while they await the ruling.
The latest delay – from this Thursday to October 2 – follows the lack of any clear decision by the FTC on whether it intends to request a preliminary injunction, despite a preliminary hearing held last month and post-hearing briefing in early September in a court in Ohio. Both companies are contesting the FTC’s attempted action.
Steris, which provides infection prevention to clients in the healthcare, pharmaceutical and research industries, is listed on the New York Stock Exchange.
But under the acquisition deal with Synergy it would launch a new company registered in the UK – a controversial move that would reduce Steris’ tax bill.
Synergy shareholders are expected to hold 30% of the new company with Steris stockholders holding the remaining 70%.
Synergy’s head office is on Swindon’s Windmill Hill Business Park. The head office of its Applied Sterilisation Technologies division is on Swindon’s Elgin Industrial Estate and it also operates an electron beam sterilisation plant and microbiological services laboratory at South Marston.
Synergy shares rose today by 2.65% to £15.50.
