As previously announced on March 22, 2010, L.B. Foster and Portec Rail each received a formal second request for additional information and documentary material from the Antitrust Division regarding the Agreement and Plan of Merger dated February 16, 2010 pursuant to which L.B. Foster proposed to acquire Portec Rail through a tender offer and subsequent merger.
L.B. Foster and Portec Rail also said that they have executed an amendment to the Merger Agreement pursuant to which the parties have agreed, among other things, to extend the drop-dead date for completion of the acquisition to August 31, 2010.
Both L.B. Foster and Portec Rail are cooperating with the Antitrust Division and are working toward responding to the second request.