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BFGoodrich Responds to Appeals Court Ruling Affirming Preliminary Injunction



RICHFIELD, Ohio --- The BFGoodrich Company said today that it remains confident that a lawsuit that is delaying the completion of its merger with Coltec Industries will be found to be without merit by the U.S. District Court in Indiana.
; BFGoodrich made the statement following a ruling by the U.S. Court of Appeals for the Seventh Circuit that affirmed a preliminary injunction issued by U.S. District Court Judge Allen Sharp on April 30. Judge Sharp had previously scheduled a hearing on the merits of the case for July 12.
; The major issue that remains before the U.S. District Court focuses on the antitrust claim of AlliedSignal and The Crane Company since an arbitration panel last week decided that the merger did not violate a strategic alliance agreement between Coltec and AlliedSignal. The arbitration panel also decided that the Coltec and AlliedSignal agreement would provide an acceptable vehicle for the companies to work together post-merger provided that safeguards are in place regarding proprietary information. The decision by the arbitration panel was unanimous and is binding on the companies.
; Terrence G. Linnert, BFGoodrich senior vice president and general counsel, said, "We continue to believe strongly that the merger poses no antitrust issues and that when the U.S. District Court conducts a full review it will agree with this assessment. In every case where a comprehensive review has been conducted, whether at the Department of Defense, the Federal Trade Commission and, most recently, the arbitration panel, the decision has been to allow the merger to proceed.'';

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BFGoodrich Responds to Appeals Court Ruling Affirming Preliminary Injunction