Waste Co. Deal Block Shows Pitfalls Of Failing Firm Defense
By Eric Kroh (July 18, 2017, 6:44 PM EDT) -- Last month, a Delaware federal judge spiked the $367 million merger of rival nuclear waste processing companies that had been challenged by the U.S. Department of Justice, and her recently unsealed opinion underscores the inherent difficulty in raising the so-called failing firm defense to salvage a transaction.
In her redacted opinion released last week, U.S. District Judge Sue L. Robinson said she granted the DOJ's request for an injunction because Utah-based EnergySolutions Inc.'s acquisition of Waste Control Specialists LLC, headquartered in Texas, would have harmed competition for the disposal of radioactive waste.
Judge Robinson rejected the companies' argument that the deal should...
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