Judge Nixes 'Failing Firm' Defense in Blocking Merger of Nuclear-Waste Disposal Giants
Waste Control Specialists and EnergySolutions Inc. engaged in a single-bidder sale process that boxed out other potential buyers and torpedoed the market-leading nuclear waste disposal companies' defense of a planned $367 million merger that was nixed last month on antitrust grounds, a Delaware judge said in a just-unsealed opinion.
July 13, 2017 at 06:02 PM
19 minute read
The original version of this story was published on Delaware Law Weekly
Waste Control Specialists and EnergySolutions Inc. engaged in a single-bidder sale process that boxed out other potential buyers and torpedoed the market-leading nuclear waste disposal companies' defense of a planned $367 million merger that was nixed last month on antitrust grounds, a Delaware judge said in a just-unsealed opinion.
The details surrounding EnergySolutions' proposed acquisition of its Utah-based competitor came to light Thursday, three weeks after U.S. District Judge Sue L. Robinson of the District of Delaware sided with government attorneys, who argued the deal would illegally create a monopoly in a market that is already difficult to enter. The companies have since cancelled the merger.
EnergySolutions and WCS had asked that the June 21 decision be filed under seal in order to protect their private information.
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