Department of Justice Prevails and Blocks Penguin Random House Acquisition of Simon and Schuster – Parties Abandon Transaction
The Department of Justice’s Antitrust Division continues its aggressive pursuit of enforcement and recently succeeded in blocking a controversial acquisition in the book selling market. After a string of losses in the merger arena, Judge Florence Pan in the District of Columbia agreed with the Department of Justice and blocked Penguin Random House’s (“PRH’s”) proposed $2.18 billion acquisition of Simon and Schuster (“S&S”). Shortly thereafter,...
