DOJ Alleges HSR Gun-Jumping When Seller Submits Multi-Year Procurement Contracts for Buyer’s Approval

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On January 21, 2010, the U.S. Department of Justice’s Antitrust Division and Smithfield Foods, Inc., entered into a settlement to resolve DOJ allegations that Smithfield engaged in “gun-jumping” in connection with Smithfield’s 2007 acquisition of Premium Standard for $810 million.[1] DOJ had investigated the merger and concluded that it was not likely to harm competition.[2] Despite that approval, Smithfield agreed to pay a civil fine of $900,000 to resolve DOJ’s gun-jumping allegations.

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Published In: Antitrust & Trade Regulation Updates, General Business Updates, Mergers & Acquisitions Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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