FTC Tries To Block Oldcastle, Pavestone Merger

Law360, New York (January 14, 2009, 12:00 AM EST) -- The U.S. Federal Trade Commission has filed a lawsuit to block Oldcastle Architectural Inc.'s $540 million acquisition of Pavestone Co. LP, alleging the deal would greatly reduce competition for drycast concrete hardscape products sold to national home retailers.

In an administrative complaint Wednesday, the FTC said that the combined companies would create a business that would control about 90 percent of sales of drycast concrete hardscape products to national home centers. Oldcastle is a unit of Dublin, Ireland-based CRH PLC, the world's second-largest maker and distributor...
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