The US Court of Appeals for the Fourth Circuit upholds its earlier decision ordering the divestiture of a corporate acquisition in a private antitrust lawsuit (Steves & Sons / Jeld-Wen / CMI)

On March 22, 2021, the US Court of Appeals for the Fourth Circuit upheld its earlier decision ordering the divestiture of a corporate acquisition in a private antitrust lawsuit, where US merger control authorities had previously cleared the transaction. The decision represents the first time a transaction approved by the US Department of Justice’s Antitrust Division (DOJ) and the US Federal Trade Commission (FTC) has been ordered to be unwound in private litigation, and the decision serves as a reminder that regulatory merger clearance does not offer a safe harbour against subsequent US antitrust litigation. The decision affirmed the lower court, which ordered the unwinding of an acquisition by doormaker Jeld-Wen Inc. (Jeld-Wen) of its competitor, Craftsman Manufacturing Inc. (CMI),

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Authors

  • Herbert Smith Freehills (New-York)
  • United Kingdom’s Competition Authority - CMA (London)

Quotation

Christopher Boyd, Jonathan Parker, The US Court of Appeals for the Fourth Circuit upholds its earlier decision ordering the divestiture of a corporate acquisition in a private antitrust lawsuit (Steves & Sons / Jeld-Wen / CMI), 18 February 2021, e-Competitions February 2021, Art. N° 100674

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