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US: DoJ says Iron Mountain must divest assets to buy Recall Holdings

By  |  March 31, 2016

The US Department of Justice said records management company Iron Mountain Inc would have to divest some of its assets to get US antitrust approval for its acquisition of Australian rival Recall Holdings.

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    The companies will have to sell assets in 15 US metropolitan areas, including Detroit, San Diego, Atlanta and Seattle to proceed with deal, the department said in a statement on Thursday.

    Recall Holdings agreed to be acquired by Iron Mountain in June last year after the U.S. company raised its cash-and-stock offer to about $2.6 billion.

    Iron Mountain said on Wednesday the deal had been approved by the Australian Competition and Consumer Commission and the UK’s Competition and Markets Authority.

    Full Content: Reuters

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