← Independent regulator rules (SEC/Fed/FDIC/SBA/FTC/NCUA/CPSC/FHFA/EEOC/NLRB)

Premerger Notification; Reporting and Waiting Period Requirements

FTC · final-rule · Published 1998-06-25 · Effective 1998-06-25 · 63 FR 34592

Document

Document number
98-16954
Federal Register citation
63 FR 34592
CFR reference
16 CFR 802
Type
Rule
Action
Final rule with request for comments.
Category
final-rule
Agency
US Federal Trade Commission
Publication date
1998-06-25
Effective date
1998-06-25

Abstract

This final rule amends the premerger notification rules that require the parties to certain mergers or acquisitions to file reports with the Federal Trade Commission and the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice, and to wait a specified period of time before consummating such transactions. The reporting and waiting period requirements are intended to enable these enforcement agencies to determine whether a proposed merger or acquisition may violate the antitrust laws if consummated and, when appropriate, to seek a preliminary injunction in federal court to prevent consummation. During the nineteen years the rules have been in effect, the Federal Trade Commission, with the concurrence of the Assistant Attorney General for Antitrust, has amended the premerger notification rules several times to improve the program's effectiveness and to lessen the burden of complying with the rules. This final rule amends Rule 802.70, which exempts from the reporting requirements acquisitions of stock or assets required to be divested by an order of the Federal Trade Commission or of any Federal court in an action brought by the Commission or the Department of Justice. As amended the Rule will exempt as well divestitures pursuant to consent agreements that have been accepted by the Commission for public comment or have been filed with a court by the Commission or the Department of Justice and are subject to public comment, but are not yet final orders. These transactions are adequately reviewed for potential antitrust concerns during the approval process under the consent agreement, in which the antitrust agencies determine that the divestiture to that party does not raise antitrust concerns. The Commission has thus made this change to Section 802.70 because such acquisitions are unlikely to raise antitrust concerns. The Commission has made this final rule without notice and comment because notice and comment would be unnecessary a

Source

Authoritative
Federal Register document
Machine
JSON-LD · Markdown