Arbitrator Sides With DOJ In First-Of-Its-Kind Merger Row

Law360 (March 9, 2020, 6:25 PM EDT) -- The U.S. Department of Justice’s gamble to invoke its never-before-used authority to send a merger challenge to arbitration paid off Monday with a decision forcing Novelis Inc. to accept a divestiture in order to complete its planned $2.6 billion purchase of Aleris Corp.

The DOJ said that arbitrator Kevin Arquit, co-chair of the antitrust group at Kasowitz Benson Torres LLP and a former Federal Trade Commission official, had agreed with the enforcers' narrow view of the market for auto body metal.

In letting an arbitrator decide the crux of the case, Novelis had agreed upfront that a loss would trigger the divestiture of all...

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