FTC wants more info from Tractor Supply, Orscheln Farm and Home
Tractor Supply Company reported that the farm and ranch retailer, along with Orscheln Farm and Home, have received a request for additional material from the Federal Trade Commission (FTC).
The request for “documentary materials” is in response to Tractor Supply’s pending acquisition of Orscheln.
In a press release issued by Tractor Supply, the retailer said this is the second request under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the HSR Act)
The effect of the second request is to extend the applicable waiting period relating to the pending acquisition until 30 days after Tractor Supply and Orscheln Farm and Home have complied with the second request unless the waiting period is terminated earlier by the FTC or voluntarily extended by Tractor Supply and Orscheln Farm and Home.
Tractor Supply and Orscheln Farm and Home said they continue to cooperate fully with the FTC in its review of the pending acquisition.
In February, Tractor Supply announced that is acquiring Orscheln Farm & Home in an all-cash transaction for approximately $297 million, net of acquired estimated future tax benefits of $23 million.
Orscheln Farm & Home operates 167 stores located in 11 states including Missouri, Kansas, Nebraska, Iowa, Indiana, Oklahoma, Arkansas, Texas, Kentucky, Illinois, and Ohio. The company's corporate office is located in Moberly, Mo., where it also maintains a distribution center.
Tractor Supply did not issue an updated timeline regarding the closing of the acquisition.
At the end of 2020, Tractor Supply operated more than 1,920 stores in 49 states. The company also operates 182 Petsense small-box pet specialty supply stores in 25 states.
