Following Verso Paper Corp.’s acquisition of Newpage, the Maine chapter of the International Association of Machinists and Aerospace Workers (IAMAW) filed a lawsuit attempting to block the sale of a local paper mill.Verso closed the mill last month and has already started the process of selling it to AIM Development.
The antitrust suit claims that Verso conspired to control the coated printing industry and part of that plan was to sell the paper mill to a company which will not continue using the mill for paper. The allegations state that Verso deliberately sold the mill before the merger with Newpage in order to be eligible for the merger.
In the settlement to acquire Newpage, Verso had to agree to sell one of Newpage’s paper mills to a Canadian paper company since they would control over 50 percent of the coated paper market with the accumulated mills. The IAMAW wants Verso to sell the mill in Maine to a buyer who would continue the paper production.
The case is scheduled for Bangor, Maine, federal court Tuesday.
Full Content: Times Union
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI