The US District Court for the Eastern District of Virginia requires divestiture in a long-consummated merger (Steves & Sons / Jeld-wen)

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Congratulations! Your deal navigated through antitrust review, you closed the transaction, and you are making your way through the three-year integration plan. The target’s corporate office was closed, you have transitioned the back-office functions to your personnel and systems, and you have consolidated product lines. Concerns about antitrust risk are long past. “Not so fast,” says one federal court. The U.S. District Court for the Eastern District of Virginia ordered JELD-WEN, Inc. to divest a plant from its October 2012 acquisition Craftmaster International (“CMI”). This is the first case in the Hart-Scott-Rodino Act era (since 1976) in which a court ordered a divestiture in a private merger challenge following a government decision to investigate but not challenge the transaction in

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Authors

  • Jones Day (Houston)
  • Jones Day (Washington DC)
  • Jones Day (Washington DC)
  • Jones Day (Houston)

Quotation

Bruce McDonald, Michael A. Gleason, Joseph Antel, Matthew Harper, The US District Court for the Eastern District of Virginia requires divestiture in a long-consummated merger (Steves & Sons / Jeld-wen), 5 October 2018, e-Competitions Merger Remedies, Art. N° 96847

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