Valvoline Inc. (NYSE: VVV) has announced that the company and Greenbriar Equity Group, L.P. have received a second request from the U.S. Federal Trade Commission (FTC) as part of the agency’s regulatory review of Valvoline’s proposed acquisition of Breeze AutoCare. This second request extends the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) until 30 days after Valvoline and Greenbriar have substantially complied with the requests unless the waiting period is voluntarily extended by the parties or terminated sooner by the FTC.
The completion of the acquisition remains subject to the expiration or termination of the waiting period under the HSR Act and other customary closing conditions. Valvoline expects the transaction to close in the second half of fiscal 2025.
Valvoline Inc. operates more than 2,000 franchised and company-operated service centers across the United States and Canada and completes more than 28 million services annually system-wide.
No specific financial metrics or performance data were provided in the press release. As a result of these announcements, the company's shares have moved 3.4% on the market, and are now trading at a price of $33.86. Check out the company's full 8-K submission here.
