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Financing the Future

Financing the Future Mar 11, 2021 Brunswick Corp. and Wells Fargo Commercial Distribution Finance extended a joint venture that began in 2002 to bring floorplan financing to Mercury Marine and Brunswick Boat Group dealers throughout North America. “Wells Fargo has been a long-standing partner of Brunswick … including almost 20 years through our joint venture,” Brunswick CFO Ryan Gwillim said in a statement. “We are currently experiencing incredibly high demand in the marine industry, and this extension will ensure that our channel partners in North America have access to high-quality floorplan financial services.” The three-year extension is in effect through December 2025 and includes expanded financing to Freedom Boat Club franchisees.

Fourth Circuit Affirms Divestiture Order in Private Clayton Act Suit

Thursday, March 4, 2021 The 4th Circuit’s decision in Steves and Sons Inc. v. JELD-WEN Inc. 1 affirmed a district court’s order compelling an acquirer to divest the business of a competitor, which the court held had been acquired in violation of Section 7 of the Clayton Act. 2 The court described the case as the first instance in which a private party successfully compelled divestiture of a completed acquisition. Government antitrust enforcers commonly obtain divestiture orders in Section 7 cases. Private parties have previously succeeded in enjoining mergers before closing. Moreover, in California v. American Stores Co., 3 the Supreme Court declared that private parties could obtain divestiture orders. However, private plaintiffs seeking divestitures have customarily been foreclosed by equitable defenses, such as (i) laches because of delays in initiating suit, (ii) the availability of damages or less-drastic equitable relief, or (iii) the greater damage dives

Quick Hits: March 5, 2021

Quick Hits: March 5, 2021 Author: Mar 5, 2021 The National Association of Manufacturers appointed Brunswick Corp. CFO Ryan Gwillim to its board of directors. “I am honored to join the NAM board and look forward to working with manufacturing leaders from around the country to educate our lawmakers on the importance of manufacturing in the United States,” Gwillim said in a statement. “We believe there is a real opportunity to enact change through a variety of key initiatives that are very important to our future growth.”

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