Melrose clears US anti-trust conditions for Nortek deal

Melrose Industries said all US anti-trust conditions in relation to its $1.4bn tender offer for Nortek had been satisfied.

The deal was announced on 6 July, with the proposed offer price of $86 per share valued Nortek's shares at $1.436bn (£1.1bn) and the entire enterprise including debt at $2.81bn million (£2.15bn), it will be classed as a reverse takeover and require the approval of recent FTSE 250 emigrée Melrose's shareholders.