Clifford Chance
Settlement Proves US Antitrust Authorities Expect 'Gun-Jumpers' to Bite the Bullet
10 November 2014
The U.S. Department of Justice ("DOJ") announced that it has reached a settlement with manufacturers of medium-density fiberboard ("MDF") for alleged illegal pre-merger coordination, often referred to as "gun-jumping," in violation of the U.S. Hart-Scott-Rodino Act ("HSR Act") and U.S. Sherman Act. The investigation and subsequent settlement highlights that the U.S. antitrust authorities are keen on ensuring that parties to a proposed transaction remain separate and continue to compete against one another until a transaction receives the necessary antitrust clearance and the parties close the transaction.
