Alleged “Transactional Device” For Avoiding Merger Filings Subject of DOJ and EU Fines
Click here to read the full article onlineEarlier this summer, the U.S. Department of Justice (the “DOJ”) filed a proposed final judgment against Canon Inc. (“Canon”) and Toshiba Corp. (“Toshiba”), imposing a $2.5 million civil penalty against each party. The DOJ, which filed a complaint based on a referral from the Federal Trade Commission (“FTC”), alleged that the parties strategically structured the sale of a Toshiba subsidiary to Canon to circumvent the filing requirements of the Hart-Scott-Rodino Act (“HSR Act”). The public comment period on the proposed final judgment runs until August 25, 2019.