Private Merger Challenge Pending in Fourth Circuit Unlikely to Affect Future Government Antitrust Action
Written by Steven Cernak for Washington Legal Foundation’s Legal Pulse.
Steves and Sons, Inc. v. Jeld-Wen, Inc. is an unusual antitrust case. A private challenge to a merger, and a consummated one at that. An ordered divestiture. A chance for an appellate opinion on merger law. Department of Justice Antitrust Division review, not once but twice, but no action. Later, DOJ argued on limited issues before the 4th Circuit.
All those oddities make the case one that antitrust lawyers should understand and follow. But, contrary to some speculation, those same unusual elements make the case easily distinguishable from any contemplated government, or even private party, attempts to unwind long-consummated mergers in the tech industry. (For an explanation of the issues in agency attempts to unwind reviewed and consummated mergers, see my WLF Legal Backgrounder here.)
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