Verifone, Hypercom and Ingenico abandon plans to divest Hypercom assets to Ingenico in connection with proposed Verifone-Hypercom transaction | Practical Law

Verifone, Hypercom and Ingenico abandon plans to divest Hypercom assets to Ingenico in connection with proposed Verifone-Hypercom transaction | Practical Law

On 20 May 2011, the US Department of Justice (DOJ) announced that VeriFone Systems, Inc., Hypercom Corp. and Ingenico S.A. abandoned their plans for Hypercom to divest its US point-of-sale (POS) business to Ingenico. The decision came one week after the DOJ filed a lawsuit to block the proposed acquisition of Hypercom by VeriFone and the divestiture of Hypercom's US business to Ingenico. According to the DOJ, the parties structured the transactions in such a way that formal notification in the United States under the Hart-Scott-Rodino Act was not required, and so the DOJ filed a complaint to enjoin the proposed transactions.

Verifone, Hypercom and Ingenico abandon plans to divest Hypercom assets to Ingenico in connection with proposed Verifone-Hypercom transaction

by Practical Law
Law stated as at 20 May 2011 • USA (National/Federal)
On 20 May 2011, the US Department of Justice (DOJ) announced that VeriFone Systems, Inc., Hypercom Corp. and Ingenico S.A. abandoned their plans for Hypercom to divest its US point-of-sale (POS) business to Ingenico. The decision came one week after the DOJ filed a lawsuit to block the proposed acquisition of Hypercom by VeriFone and the divestiture of Hypercom's US business to Ingenico. According to the DOJ, the parties structured the transactions in such a way that formal notification in the United States under the Hart-Scott-Rodino Act was not required, and so the DOJ filed a complaint to enjoin the proposed transactions.