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DOJ Sues to Block Assa Abloy’s Deal for Spectrum Brands Unit

  • Deal would consolidate market for door hardware, US says
  • Spectrum vowed to ‘vigorously’ oppose DOJ challenge to deal


Photographer: Samuel Corum/Bloomberg
Updated on

The Justice Department sued to block Sweden’s Assa Abloy AB from acquiring the door hardware unit of Spectrum Brands Holdings Inc. Thursday.

In a complaint filed in Washington federal court, the Justice Department said the deal would combine two of the three leading providers of residential door hardware, which includes locks, latches and knobs, and give the new firm a 65% share of the market.