The Department of Justice announced on May 5 that it reached a settlement with Assa Abloy AB, a Swedish lock manufacturer, ending the DOJ’s lawsuit seeking to block Assa Abloy’s $4.3 billion merger with US lock maker Spectrum Brand Holding Inc. The agreement will see Assa Abloy divest assets to Fortune Brands Innovations, Inc., and the move is intended to continue competition in the markets for premium mechanical door hardware and smart locks.
In the past, a company reaching a settlement with the DOJ to divest assets in order to complete a merger would be unsurprising. ...
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