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ANALYSIS: M&A Parties’ Appetites for Antitrust Risk Seem High

Sept. 22, 2022, 9:00 AM

The US Department of Justice sued to block the merger of Assa Abloy AB and a division of Spectrum Brands Holdings Inc. in DC federal court on Sept. 15, alleging that the merger would combine 65% of the market for “premium” residential door locks and also harm competition in the “smart lock” market.

The $4.3 billion deal and its outcome may be indicative of several trends in US merger review at the moment. At a number of public engagements in the past two weeks, the DOJ has said that it’s seeing a lot of deals that shouldn’t have been inked ...