MW&E Advises on $840 Million Timken Deal
WASHINGTON, D.C. - An antitrust team from McDermott Will & Emery acted as counsel for The Timken Company in connection with its pending $840 million acquisition of The Torrington Company from Ingersoll-Rand Company Limited.
The Timken Company is an international manufacturer of highly engineered bearings, alloy and specialty steels and components, as well as related products and services. With operations in 24 countries, the company employs about 18,200 associates worldwide. The Torrington Company is a worldwide producer of high quality, precision bearings and motion control components and assemblies. Both companies manufacture bearings, which are sold to automotive and industrial manufacturers, as well as aftermarket users around the world. This transaction will create the largest bearing producer in North America.
McDermott Will & Emery antitrust partners, Joseph Winterscheid and Joel Grosberg, all based in the Firm's Washington, D.C. office, successfully represented Timken before the Federal Trade Commission and the transaction was allowed to proceed without a Second Request being issued. The Hart-Scott-Rodino waiting period on this matter expired on December 10, 2002. The Firm's antitrust team is also coordinating international antitrust filings with local counsel in the European Union, Canada, Brazil, Poland, Romania and Slovak Republic.
