By Will Feuer


Spectrum Brands Holdings Inc. responded to a lawsuit filed by the U.S. Department of Justice seeking to block the company's $4.3 billion sale of its hardware and home-improvement division to Assa Abloy AB.

Spectrum Brands said it and Assa Abloy are still committed to completing the deal. The company said Assa Abloy has initiated a sales process to divest certain businesses to resolve any potential anticompetitive concerns surrounding the deal.

Last month, the DOJ sued to block the deal, alleging that the merger would eliminate head-to-head competition between Assa Abloy and Spectrum, "risking higher prices, lower quality, reduced innovation and poorer service in the sale of at least two types of residential door hardware: premium mechanical door hardware and smart locks."

Spectrum Brands sells Kwikset-branded locks and Pfister-branded faucets, among other household items. Assa Abloy, a Swedish company, sells locks under the brand names Yale and Medeco.

Spectrum Brands said Friday that allegations that the deal would violate antitrust laws are incorrect, even before taking into account Assa Abloy's proposed divestitures. "There is no basis in law or in fact for the DOJ's meritless claims," Spectrum Brands said.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

10-14-22 1658ET