BJ Services Clears Waiting Period for Merger with OSCA
BJ Services Company has received notice that early termination of the Hart-Scott- Rodino waiting period was granted effective March 8, 2002, for its planned acquisition of OSCA, Inc. On February 20, 2002, BJ Services announced its intent to acquire OSCA, a major provider of oil and gas well completion fluids, completion services and downhole completion tools in the United States and select international markets.
OSCA filed an information statement with the Securities and Exchange Commission on Friday, March 8. It is expected that the transaction will close in mid-April or May, depending on the length of the SEC review process. Shareholder approval necessary to approve the transaction has already been received through action taken by Great Lakes Chemical Corporation, the majority stockholder of OSCA.