The US Department of Justice filed a lawsuit on Wednesday to block the proposed acquisition of Ross Aviation by Landmark Aviation, say reports, as the DOJ moves to force Landmark to divest key assets.
Landmark will need to sell certain fixed base operator assets after authorities found that the merger would lead to a monopoly of such assets at Scottsdale Municipal Airport in Arizona.
While the DOJ filed a suit to block the deal, reports say it simultaneously filed a settlement proposal outlining the divestitures needed to quell competition concerns. In a statement, DOJ Assistant Attorney General of the Antitrust Division said that “without the divestiture secured by the Antitrust Division, the proposed acquisition would have eliminated competition constraints at the Scottsdale airport and likely would have resulted in higher prices for consumers.”
The two aviation firms reached a merger deal for $330 million.
Full content: Yuma News Now
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