Case Description
As part of a negotiated joint consent decree with the U.S. Department of Justice (DOJ), the State of Florida sought to enjoin the merger between NationsBank and Barnett Bank, alleging that the merger would substantially impair competition in the banking industry. In order to consummate the merger, NationsBank agreed to divest 124 branch offices in 15 areas of Florida, having total deposits of approximately $4.1 billion. In addition to the divestitures, NationsBank agreed not to preclude other financial institutions from leasing or purchasing any bank branches it may close due to consolidation resulting from the merger. The Department of Justice also participated in the investigation.
