Law360, New York (December 15, 2011, 6:14 PM ET) -- Federal trade regulators on Thursday moved to block Graco Inc.'s proposed $650 million acquisition of certain Illinois Tool Works Inc. operations, claiming the deal would stifle competition in markets for key industrial finishing equipment.
The U.S. Federal Trade Commission filed an administrative complaint against Minneapolis-based Graco and the ITW businesses, as well as a sealed parallel action in Washington federal court seeking a preliminary injunction halting the merger pending the outcome of the administrative action.
The FTC contends that the fluid management technology company’s planned acquisition...
FTC Challenges Graco's $650M ITW Deal
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