Tag: Jonathan Kanter
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...
ASSA ABLOY completes sale of Emtek and Smart Residential toward HHI acquisition
December 2, 2022SSN Staff
YARMOUTH, Maine – On Dec. 2 ASSA ABLOY announced that it has entered into binding agreements with Fortune Brands Home & Security with regard to the sale of its Emtek and Smart Residential businesses.
Following ASSA ABLOY’s bid to acquire Spectrum Brands HHI (Home and Hardware Improvement) division, the U.S. Department of Justice (DoJ) filed an antitrust lawsuit to block it on Sept. 15, 2022. As part of efforts to clear a path for the acquisition ASSA ABLOY moved to divest...
ASSA ABLOY issues official response to U.S. Department of Justice
October 17, 2022Ken Showers, Managing Editor
WASHINGTON – Following a complaint filed by the U.S. Department of Justice (DoJ) blocking ASSA ABLOY's acquisition of Spectrum Brands' Holding Hardware and Home Improvement division, the company issued its response to the DoJ on Oct. 14, 2022.
ASSA ABLOY confirmed that it has initiated the sales process for Emtek Products and their Smart Residential (Yale) business in the U.S. and Canada. ASSA ABLOY said that it is “vigorously contesting”...
A Lack of Trust
September 28, 2022Ken Showers, Managing Editor
Last week I wrote a story about the anti-trust lawsuit filed by the U.S. Department of Justice (DOJ) against Swedish company Assa Abloy to prevent their acquisition of the hardware and home improvement division of Spectrum Brand Holdings.
To give you an idea of the tone for this blog my other titles were, “Passing Go” and “Hungry, Hungry Hippos”.
Preaching a parable about corporate greed would be misplaced in a B2B focused publication however, so I would instead...
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...