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FTC Clears Engility-TASC Deal, Firms Eye 1Q 2015 for Closure

acquisitionThe Federal Trade Commission has given Engility Holdings (NYSE: EGL) the go-ahead to continue its estimated $1.1 billion all-stock acquisition of TASC.

The FTC terminated the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and this move completes one of the conditions for the transaction’s closure, Engility said Thursday.

Engility and TASC expect to complete the transaction in the first quarter of 2015 and the deal is still subject to a vote by shareholders from both companies and finalization of the financing arrangements.

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