TopBuild Corp. announced its decision today to abandon its proposed $960 million acquisition of its rival, SPI Parent Holding Company (SPI). This decision came after concerns raised by the Antitrust Division of the Justice Department.

Assistant Attorney General Jonathan Kanter of the Antitrust Division highlighted the potential negative impact of the proposed acquisition on competition in the United States. Kanter stated, "TopBuild’s proposed acquisition of SPI would have harmed competition across the United States by combining two of the largest providers of important building insulation products and eliminating fierce head-to-head competition between them." Kanter also expressed gratitude towards the Antitrust Division's team for their efforts in ensuring this outcome.

The decision to abandon the acquisition reflects a commitment to maintaining a competitive landscape in the building insulation products market. TopBuild's move to heed the concerns raised by the Antitrust Division showcases a dedication to upholding fair competition practices within the industry.

Overall, the decision to halt the proposed acquisition of SPI by TopBuild underscores the importance of antitrust regulations in safeguarding competition and preventing monopolistic practices within key sectors of the economy.