Was A $5M Fine Just The Cost Of Closing A $6B Deal?

Law360 (June 18, 2019, 7:24 PM EDT) -- When the Federal Trade Commission and the U.S. Department of Justice announced that Canon and Toshiba would pay $2.5 million each to settle allegations they deliberately skirted obligations to report Canon's $6 billion purchase of Toshiba Medical Systems, the agencies pronounced it a stern warning to others who might be tempted to close mergers without providing the obligatory disclosure.

The antitrust agencies, FTC Competition Bureau Chief Bruce Hoffman said in a statement June 10, "will be vigilant" against those who try to "circumvent" the filing requirements imposed by the Hart-Scott-Rodino Act on mergers above certain financial levels. But the settlement amounts to...

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