FOE - Ferro ticks higher after FTC conditionally approves sale to Prince International deal closes (update)

Update 12:24pm: Adds deal closed.  Ferro Corp. (NYSE:FOE) ticked higher after the Federal Trade Commission conditionally approved its sale to Prince International, the last hurdle needed for the deal to close. Ferro (FOE) separately announced in a press release that its sale to Prince has been completed. The FTC is requiring Ferro (FOE) and Prince to sell of three facilities amid concern the deal would increase concentration in the North American market for porcelain enamel frit, according to a press release from the regulatory. The news comes after a Dealreporter item on Tuesday said  Prince's $2.1 billion purchase of Ferro Corp. (NYSE:NYSE:FOE) was said expected to close this week. Prince last month announced the sale of its porcelain enamel and glass coatings U.S. and Europeans businesses to KPS Capital Partners. Prince's proposed acquisition of Ferro (FOE) won conditional approval from the European Union in January. Prince pledged to divest its European porcelain enamel and glass

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Ferro ticks higher after FTC conditionally approves sale to Prince International , deal closes (update)