DOJ sues to block Spectrum Brands' $4.3B sale of HHI to ASSA ABLOY; company vows to fight

Spectrum Brands Holdings, Inc.

DOJ filed lawsuit on Sept. 15, 2022 to block Spectrum Brands' sale of its Hardware & Home Improvement division to ASSA ABLOY for $4.3B in cash.
Spectrum Brands and ASSA ABLOY will vigorously oppose the DOJ's action and are confident of prevailing in litigation.
Spectrum says it made multiple proposals to address DOJ concerns, all rejected without valid basis.
CEO David Maura stated the DOJ's choice to pursue litigation places political ideology above consumers and workers.
Transaction announced Sep. 8, 2021; DOJ action threatens completion and strategic shift to pure-play Pet Care and Home & Garden.

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