Clearing a big hurdle, Aegis BPO said Tuesday that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its proposed $250 million merger with PeopleSupport Inc. has expired without a request for further information by the Federal Trade Commission.
Mumbai-based Aegis last month said it would pay shareholders $12.25 a share in cash for Los Angeles-based PeopleSupport, an offshore business process outsourcing company that would become part of its Essar Services subsidiary.
PeopleSupport, which employs people in Philippines and Costa Rica to perform a variety of business services for U.S. and other companies, has scheduled a special stockholders meeting on Oct. 8 to vote on the merger.
PeopleSupport shares were up 23 cents, or 2 percent, to $11.50 in morning trading on the Nasdaq.
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