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Assa Abloy, Spectrum Brands divestiture would eliminate overlap but increase entanglement, US DOJ economist says

By Serafina Smith ( May 2, 2023, 00:30 GMT | Insight) -- Assa Abloy’s acquisition of Spectrum Brands’ Hardware and Home Improvement Division is likely to substantially lessen competition even with the parties’ proposed divestiture to Fortune Brands in place, an expert economist for the US Department of Justice testified today. Economist Keith Waehrer warned that the carve-out nature of the deal could increase the risk of coordinated effects and decrease the likelihood the divested brands will be able to compete fiercely and independently in the post-merger market. Assa Abloy’s acquisition of Spectrum Brands’ Hardware and Home Improvement Division is likely to substantially lessen competition even with the parties’ proposed divestiture to Fortune Brands in place, an expert economist for the US Department of Justice testified today....

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