ASSA ABLOY and the DOJ reach a settlement regarding the HHI acquisition
STOCKHOLM, May 6, 2023 /PRNewswire/ -- Today, ASSA ABLOY and the U.S. Department of Justice ("DOJ") have reached a settlement agreement related to ASSA ABLOY's acquisition of Spectrum Brands' Hardware and Home Improvement division ("HHI").
- STOCKHOLM, May 6, 2023 /PRNewswire/ -- Today, ASSA ABLOY and the U.S. Department of Justice ("DOJ") have reached a settlement agreement related to ASSA ABLOY's acquisition of Spectrum Brands' Hardware and Home Improvement division ("HHI").
- The settlement will put an end to the trial proceedings of the District Court for the District of Columbia.
- Following this settlement, the HHI acquisition remains subject to customary closing conditions, including approval of the Mexican competition authority, which is the only outstanding regulatory condition.
- On September 15, 2022, the DOJ announced that it will seek to block the proposed acquisition of HHI.