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Amedisys, Inc. (AMED): $90.05
Market Cap: $2.95 B
Deal Size: $3.8 B
We have seen all kinds of regulatory actions against companies related to M&A activity including asking companies who completed mergers to unwind them. The Illumina – Grail merger is a recent example and the acquisition of PowerReviews by Bazaarvoice from more than a decade ago comes to mind. However I have never seen the DOJ indicate that a company has violated the HSR act and impose a significant daily penalty.
The DOJ claimed that Amedisys allegedly violated the Hart-Scott-Rodino (HSR) Act, by falsely certifying that it was following the law but failed to provide the required documents and didn’t disclose that some documents were deleted. The U.S. government is seeking penalties of up to $51,744 per day for violating the HSR Act. This non-compliance seems highly unusual, as we have not seen a company voluntarily withhold documents in the fourteen years we have been tracking M&A data.