Judge Sets November Trial in Suit to Block Quad's Purchase of LSC
July 16, 2019
WASHINGTON, D.C. (From news reports) -- Late last week, Judge Charles R. Nagle denied Quad's motions for an expedited trial in the Department of Justice's lawsuit aimed at blocking Quad's purchase of LSC Communications. Quad had asked for a quick trail, arguing that the government had been investigating the merger for eight months and that the two printers had hoped to close the deal by October.
Judge Nagle rejected those arguments and set a trial date of November 14. If the deal isn't close by October 30, Quad would need to pay LSC $45 million, according to terms of the agreement. Nagle agreed with the DoJ that Quad and LSC are free to renegotiate the $45 million payment without input form the court.
The DoJ shocked the printing world when it announced its intention in June to attempt to block the purchase of LSC by Quad, a deal that would merge the country's two largest printers. While the companies argued they only have a small slice of the overall printing market, the DoJ rather focused on their penetration of certain market segments, including the book market, where the DoJ believes a merger would create a dominating printer.
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