Tag: antitrust
ASSA ABLOY reaches settlement with U.S. Department of Justice
May 6, 2023Ken Showers, Managing Editor
WASHINGTON, D.C. – Global access solutions provider ASSA ABLOY has resolved its lawsuit with the U.S. Department of Justice (DoJ), paving the way forward for its acquisition of Spectrum Brands’ Hardware and Home Improvement division (“HHI”).
On May 5 the company reached a settlement with the DoJ that will see ASSA ABLOY move forward with its divestment of Emtek and the Smart Residential business in the U.S. and Canada to Fortune Brands. At the time ASSA...
DoJ sues to stop Assa Abloy acquiring Spectrum Brands' Home & Hardware division
September 23, 2022Ken Showers, Managing Editor
WASHINGTON, D.C. – The U.S. Department of Justice (DoJ) has filed an antitrust lawsuit to block the proposed acquisition of Spectrum Brands' Holdings Home and Hardware Improvement division by its rival, Swedish conglomerate Assa Abloy.
Assa Abloy and Spectrum make two out of three of the largest players in the residential door hardware community, an industry sector worth roughly $2.4 billion. In their complaint the DoJ alleged that the acquisition would eliminate...