For Release: May 21,
2002 FTC Announces
First Workshop on Merger Remedies Scheduled for June 18,
2002
Joseph J. Simons, director
of the Federal Trade Commission's Bureau of Competition,
today announced the first scheduled Workshop on Merger
Remedies. This first in a planned series of FTC "brown
bag" workshops designed to solicit information from a
broad range of interest groups regarding remedies in
merger and acquisition matters is scheduled for
12:00 p.m. on June 18, 2002, in room 332 of the
Commission's Headquarters Building in Washington, D.C.
The Commission's March 15 press release -
FTC Initiates Best Practices Analysis for Merger Review
Process - contains more detailed information on
this topic. Future workshops are planned for New York City
and other locations, with dates and specific locations to
be announced later.
FTC representatives who
will participate in the June 18 workshop include Joseph J.
Simons, director, Bureau of Competition; Phillip Broyles,
assistant director, Bureau of Competition; Daniel Ducore,
assistant director, Bureau of Competition; Richard
Liebeskind, assistant director, Bureau of Competition; and
Christina Perez, attorney, Bureau of Competition.
Topics that will be covered
include: the basic purpose of any merger case remedy; what
needs to be divested; what the staff is seeking when it
evaluates a proposed buyer and the divestiture agreement(s);
the staff's concerns about continuing entanglements
between parties and buyers; the use of the
"buyer-up-front"; and other provisions such as "crown
jewels," orders to hold separate, and monitor trustees.
As noted in the
March 15 release, to facilitate the discussion for the
remedies workshops, the Bureau of Competition has
published on its Web site a series of "Frequently Asked
Questions About Merger Consent Order Provisions" (http://www.ftc.gov/bc/mergerfaq.htm).
Anyone wishing to submit advanced written comments
regarding the workshop topics may do so at
remedies@ftc.gov. |