Federal regulators give blessing to Red Hat-IBM merger
RALEIGH -- The Department of Justice has given the go-ahead to IBM’s $34 billion takeover of Raleigh-based Red Hat, according to a Monday morning filing with the Securities and Exchange Commission.
IBM said in its filing that the Justice Department gave the approval Friday and did not find any anti-trust violations that needed to be resolved. The deal still needs approval in other jurisdictions before it can officially close, the filing noted.
The merger is expected to officially close sometime in the second half of this year. The deal between the two tech companies wasn’t expected to face any hurdles from regulators when the deal was first announced last October.
In January, Red Hat shareholders also approved the deal in a vote.
IBM, which has a campus in Research Triangle Park, has said it intends to keep Red Hat based in downtown Raleigh. The company has more than 2,000 employees at its headquarters, making it one of the city’s largest employers.
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