Law360, New York (October 26, 2012, 12:31 PM EDT) -- In a stark reminder that non-Hart-Scott-Rodino-reportable transactions are fully subject to the antitrust laws — even after they have closed — the Federal Trade Commission, on Oct. 12, 2012, filed a complaint and accompanying consent agreement attacking Magnesium Elektron North America Inc.’s (MEL) 2007 acquisition of competitor Revere Graphics Worldwide Inc.
The $15 million acquisition was too small to be reportable under the Hart-Scott-Rodino Premerger Notification Act of 1976, as amended. While the government’s antitrust authority to challenge already consummated transactions is unquestioned, it is very unusual for the FTC (or the U.S. Justice Department Antitrust Division) to reach back this...
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