Archrock Announces Expiration of HSR Act Waiting Period
Today, Archrock, Inc. (NYSE: AROC) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") has officially expired. This is in relation to its acquisition of Total Operations and Production Services, LLC.
Why the HSR Act Waiting Period Matters
The expiration of the HSR Act waiting period is a vital milestone in the acquisition process, as it fulfills a key requirement necessary to move forward with the transaction. This act is designed to prevent mergers and acquisitions from breaching antitrust laws, thereby fostering fair competition within the marketplace.
Projected Timeline for Finalization
The deal is expected to close in the third quarter of 2024, provided that all other customary closing conditions are met. Archrock is actively preparing for a seamless transition after the acquisition, ensuring that both organizations can collaborate effectively once the deal is finalized.
About Archrock
Archrock is a leading energy infrastructure company specializing in midstream natural gas compression. The company is committed to helping its clients produce, compress, and transport natural gas in an environmentally sustainable way. As a top provider of natural gas compression services across the U.S., Archrock also offers aftermarket services to equipment owners.
Dedication to Environmental Stewardship
Archrock is dedicated to its mission of fostering a cleaner energy future, aligning its operations with sustainable practices. The company prioritizes safety and environmental responsibility in all its activities, ensuring that its operations have a positive impact on both the community and the environment.
Company Contacts
For more information about Archrock and its offerings, interested individuals can reach out to the following contacts:
Archrock, Inc.
Investors:
Megan Repine
Vice President of Investor Relations
281-836-8360
investor.relations@archrock.com
Media:
Andrew Siegel / Jed Repko
Joele Frank
212-355-4449
Frequently Asked Questions
What is the significance of the Hart-Scott-Rodino Act expiration?
The expiration signifies that the transaction complies with antitrust regulations, allowing the acquisition to move forward.
When is the expected completion date for the acquisition?
The transaction is anticipated to close in the third quarter of 2024, pending the fulfillment of customary closing conditions.
What services does Archrock provide?
Archrock specializes in midstream natural gas compression services and offers aftermarket support for compression equipment, with a focus on safe and environmentally friendly practices.
How does the acquisition benefit Archrock?
This acquisition is expected to strengthen Archrock's operational capabilities and expand its service offerings within the energy sector.
Who should be contacted for investor inquiries?
Investors can contact Megan Repine, Vice President of Investor Relations, at 281-836-8360 or via email at investor.relations@archrock.com.
