DOJ Seeks Divestiture After Win In Novelis Merger Arbitration

Law360 (May 12, 2020, 11:05 PM EDT) -- The U.S. Department of Justice asked an Ohio federal court on Tuesday to greenlight a proposed judgment forcing Novelis Inc. to accept a divestiture in order to complete its planned $2.6 billion purchase of Aleris Corp., following a first-of-its-kind win for the agency in arbitration over the tie-up.

The government said that if accepted by the court, the proposal would address the concerns that spurred it to challenge the merger between aluminum giant Novelis and its Ohio-based former competitor Aleris.

"Today's proposed divestiture preserves competition in the market for aluminum automotive body sheet and protects automakers and American consumers by requiring the...

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