Spin Offs Can’t Save Assa Abloy Door-Lock Merger, DOJ Says

The $4.3 billion acquisition of Spectrum Brands Holdings Inc.’s door hardware unit by Sweden’s Assa Abloy AB would harm consumers of smart-home locks and the divestiture of “gerrymandered” assets isn’t enough to alleviate the damage, the Justice Department told a federal judge Monday.

The deal would give the combined company more than half of the US market for smart locks – electronic locks that can be accessed remotely, such as by mobile phones — and nearly three-quarters of the US market for mechanical door hardware inside homes, such as knobs, levers, handles and locks.

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