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Danfoss Divests To Get DOJ Blessing On $3.3B Eaton Buy
Law360 (July 14, 2021, 8:35 PM EDT) -- Danish engineering company Danfoss will be ditching some of its orbital motor and hydraulic steering unit business in order to get the U.S. Department of Justice's blessing on a $3.3 billion deal with Eaton Corp., the DOJ declared Wednesday.
If left untouched, Danfoss' deal to pick up Eaton's hydraulic business would have meant higher prices and lower quality for equipment manufacturers in the two industries, according to the Department of Justice.
But the deal the agency has worked out with the companies, which will see them shed around a half-dozen factories to one of their rivals, should assuage any concerns about harming competition,...