After the two companies said on April 17 that they would abandon pursuit of the deal, FTC director Deborah Feinstein released a statement that said the decision "preserves competition for consumers in the markets for class rings, which are an important memento for millions of high school and college graduates across the country."The FTC held that combining two of the three leading makers of class rings would have led to higher prices and lower quality. Commissioners voted, 4-0, this week to sue for a preliminary injunction in federal court to stop Jostens from moving forward on the acquisition.
Jostens is owned by Armonk, N.Y.-based Visant Corporation.
American Achievement, which markets rings and other products under the balfour brand, is based in Austin.
Sard managing directors Anna Cordasco and Brooke Gordon advise AA.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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