Energizer Deal's Antitrust Approval Shocks Investors

Monday, April 2, 2018

Jonathan Grossman, a member of the firm's Antitrust Practice, was quoted in Bloomberg Market's article, "Energizer Deal's Antitrust Approval Shocks Investors." The U.S. Federal Trade Commission allowance of Energizer Holdings Inc.’s purchase of Spectrum Brands Holdings Inc.’s battery unit comes amid market expectations of a longer antitrust review. The decision came after the FTC last month blocked J.M. Smucker Co.’s acquisition of Conagra Brands Inc.’s Wesson cooking oil brand, which some saw as a gauge for the Spectrum Brands, Energizer transaction. “This case is a reminder that every merger review is highly fact specific and I would caution anybody against reading too much into any one decision,” Jonathan said in an interview with Bloomberg News. In the Spectrum/Energizer scenario, he added, “the FTC may have concluded that major competition was at the wholesale level" as major retailers carry a limited number of brands.

To read the full article, click here.

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