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US: DOJ challenges illegal antitrust “gun jumping” in energy transaction

By  |  March 1, 2017

The Department of Justice Antitrust Division recently brought a civil antitrust lawsuit against Duke Energy, alleging that the electric power generator engaged in illegal “gun jumping” by obtaining beneficial ownership over a power plant through a tolling agreement before making a required Hart-Scott-Rodino Act filing and observing the applicable statutory waiting period.

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    The DOJ announced that it had simultaneously reached a $600,000 settlement with Duke. The HSR Act requires that parties to certain acquisitions notify the antitrust enforcement agencies and observe a waiting period before consummating the transaction or transferring beneficial ownership of the business at issue.

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