DOJ: Parking Giants Must Divest Before Merging

The U.S. Justice Department today said that in order for a merger of two parking facility giants to proceed, Nashville-based Central Parking Corp. and Chicago-based Standard Parking Corp. must sell 107 of their garages and lots in the central business districts of 28 cities. The department’s complaint alleges that the proposed acquisition would lessen competition in certain areas -- and Nashville is one of them. The two companies are the largest parking management companies in the nation. The Commercial Appeal reports.