ASSA ABLOY's agreement to acquire the HHI division of Spectrum Brands last year included a purchase price of $4.3 billion on a cash and debt free basis, and was announced on September 8, 2021. On September 15, 2022, the U.S. Department of Justice (DOJ) blocked the proposed acquisition of HHI. Two months ago, ASSA ABLOY announced that it would sell Emtek and the Smart Residential businesses, as a way to address the DOJ's concerns.