Antitrust & Trade Reg.
May 14, 2011
DOJ Sues Over Verifone Buy
The Department of Justice filed an antitrust lawsuit Thursday to block a California company that makes electronic-sales terminals from acquiring a rival firm.
Daily Journal Staff Writer
WASHINGTON - The U.S. Justice Department sued VeriFone Systems Inc. on Thursday alleging its purchase of a rival would run afoul antitrust rules. The department said the deal would eliminate competition in the market for the terminals that retailers use to handle billions of dollars in credit- and debit-card transactions.
VeriFone, a San Jose firm that took in $1 billion in revenue in its last fisca...
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