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Macrovision, Gemstar-TV Guide merger clears waiting period hurdle
By Lisa Kerner
Charlotte, N.C., Jan. 14 - The Federal Trade Commission and the Department of Justice granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Macrovision Corp. and Gemstar-TV Guide International, Inc., it was announced on Monday.
As previously reported, Macrovision agreed to acquire Gemstar in a cash and stock transaction valued at some $2.8 billion.
Gemstar stockholders will receive $6.35 in cash or 0.2548 of a share of common stock in a new holding company that will own both Gemstar and Macrovision.
Both companies' boards of directors have unanimously approved the transaction, which is expected to close early in the second quarter at the latest.
Gemstar is a media and entertainment company located in Los Angeles.
Macrovision provides digital lifecycle management solutions, including anti-piracy and content protection solutions. The company is based in Santa Clara, Calif.
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