Lessons Learned From Negotiating 'Hold Separates'

Law360, New York (July 22, 2011, 11:29 AM EDT) -- Over the last few years, the antitrust enforcement agencies (the Antitrust Division of the U.S. Department of Justice and the U.S. Federal Trade Commission) have investigated and ultimately challenged on antitrust grounds a number of transactions that were not reportable under the requirements of the Hart-Scott-Rodino (“HSR”) Act. Several of these matters involved transactions that had closed but the companies had not fully integrated.

As a result, the agency reviewing the transaction has sought to have the two companies agree to hold their respective assets separate....
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