FTC Moves To Block $400M Marine Water Treatment Merger

Law360 (February 23, 2018, 2:28 PM EST) -- The Federal Trade Commission said Friday that it has moved to block Wilhelmsen Maritime Services AS’ planned $400 million purchase of Drew Marine Group Inc., after finding the deal would significantly hurt competition in the market for marine water treatment chemicals and services.

The commission voted 2-0 in favor of issuing an administrative complaint targeting the transaction and also authorized staff to seek a temporary restraining order and a preliminary injunction in federal court to prevent the deal from closing during the administrative proceedings.

According to...
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