FTC obtains preliminary injunction to block CCC/Mitchell Merger | Practical Law

FTC obtains preliminary injunction to block CCC/Mitchell Merger | Practical Law

On 9 March 2009, the District Court for the District of Columbia granted the US Federal Trade Commission's (FTC) motion for a preliminary injunction to enjoin the proposed merger of CCC Holdings (CCC) and Mitchell International (Mitchell). In an 85-page opinion released publicly on 18 March 2009, the federal District Court held that a preliminary injunction should issue because the FTC raised questions "so serious, substantial, difficult, and doubtful" with regard to the merits of the proposed transaction that it warranted a full hearing at the FTC. After learning of the decision, CCC and Mitchell announced that they would abandon the US$1.4 billion merger.

FTC obtains preliminary injunction to block CCC/Mitchell Merger

Practical Law UK Legal Update 6-385-5549 (Approx. 4 pages)

FTC obtains preliminary injunction to block CCC/Mitchell Merger

by Practical Law
Law stated as at 09 Mar 2009USA (National/Federal)
On 9 March 2009, the District Court for the District of Columbia granted the US Federal Trade Commission's (FTC) motion for a preliminary injunction to enjoin the proposed merger of CCC Holdings (CCC) and Mitchell International (Mitchell). In an 85-page opinion released publicly on 18 March 2009, the federal District Court held that a preliminary injunction should issue because the FTC raised questions "so serious, substantial, difficult, and doubtful" with regard to the merits of the proposed transaction that it warranted a full hearing at the FTC. After learning of the decision, CCC and Mitchell announced that they would abandon the US$1.4 billion merger.