4th Circ. Upholds Private Parties' Right To Challenge Mergers
Law360 (February 18, 2021, 10:42 AM EST) -- The Fourth Circuit held Thursday that a district court was within its rights to issue a first-of-its-kind divestiture order after a private company challenged an acquisition carried out by a rival door maker.
The Fourth Circuit held Thursday that courts can order a divestiture following a private challenge to a merger. (AP Photo/Steve Helber)
The three-judge panel's published opinion largely went against Jeld-Wen Inc., which a lower court ordered in October 2018 to spin off a Pennsylvania factory acquired when it purchased another door manufacturer, CraftMaster Manufacturing Inc., or CMI, in 2012.
The panel did, however, reject a jury's award of future...
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