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Staley v. Gilead Sciences
DTE Energy Company; Analysis of Agreement Containing Consent Orders To Aid Public Comment
Fidelity National Financial/Stewart Information Services, In the Matter of
The FTC issued an administrative complaint charging that Fidelity National Financial’s proposed $1.2 billion acquisition of Stewart Information Services would violate the antitrust laws by significantly reducing competition for title insurance underwriting for large commercial transactions in 45 states and the District of Columbia, and for title information services in 14 local markets. The FTC alleges that if consummated, the merger would reduce an industry dominated by “the Big 4” players to the Big 3. Post-merger, Fidelity would control more than 43 percent of all title insurance sales nationwide, and over 40 percent of sales for large commercial transactions in most state-level markets. The FTC also authorized staff to seek in federal court a temporary restraining order and a preliminary injunction to prevent the parties from consummating the merger, and to maintain the status quo pending the administrative proceeding. On Sept. 10, 2019, the parties abandoned the transaction.
FTC Approves Final Order Imposing Conditions on Boston Scientific Corp.’s Acquisition of BTG plc
US Foods Holding Corp.; Analysis of Agreement Containing Consent Orders To Aid Public Comment
Concurring Statement of Commissioner Christine S. Wilson in the Matter of DTE Energy Co., Enbridge Inc., and NEXUS Gas Transmission LLC
Joint Statement of Commissioners Rohit Chopra and Rebecca Kelly Slaughter in the Matter of DTE Energy/Generation Pipeline
FTC Approves Final Order Imposing Conditions on Quaker Chemical Corp.’s Acquisition of Houghton International Inc.
Quaker Chemical Corporation and Global Houghton Ltd., In the Matter of
Chemical companies Quaker Chemical Corp and Houghton International Inc. have agreed to divest assets to a subsidiary of French multinational corporation Total S.A., to settle Federal Trade Commission charges that Quaker’s proposed $1.4 billion acquisition of Houghton would violate federal antitrust law. According to the complaint, the proposed acquisition would harm competition in the North American market for aluminum hot rolling oil and associated technical support services; and in the North American market for steel cold rolling oils, and associated technical support services. Steel cold rolling oils include sheet cold rolling oil, pickle oil, and tin plate rolling oil. Under the proposed settlement agreement, Quaker must divest Houghton’s North American aluminum hot rolling oil and steel cold rolling oil product lines and related assets to Total. On Sept. 12, 2019, the FTC announced that it has approved a final order in this matter.
Boston Scientific Corporation; Analysis of Agreement Containing Consent Orders To Aid Public Comment
FTC Requires Divestitures and Imposes Conditions on Boston Scientific Corp.’s Acquisition of BTG plc
FTC Challenges Proposed Merger of Two Hydrogen Peroxide Producers
FTC Imposes Conditions on Quaker Chemical Corp.’s Acquisition of Houghton International Inc.
After Healthcare System Sanford Health Abandons Acquisition of North Dakota Healthcare Provider Mid Dakota Clinic, FTC Dismisses Case from Administrative Trial Process
Sanford Health/Sanford Bismarck/Mid Dakota Clinic, In the Matter of
The FTC issued an administrative complaint and authorized a federal court action to block Sanford Health's proposed acquisition of Mid Dakota Clinic, alleging that the deal would vioated antitrust law by significantly reducing competition for adult primary care physician services, pediatric services, obstetrics and gynecology services, and general surgery physician services in the greater Bismarck and Mandan metropolitan area. The FTC, jointly with the Office of the Attorney General of North Dakota, filed a complaint in federal district court seeking a temporary restraining order and preliminary injunction to stop the deal and maintain the status quo pending an administrative trial on the merits. According to the complaint, Sanford and Mid Dakota are each other's closest rivals in the four-county Bismarck-Mandan region of North Dakota, and the merger would create a group of physicians with at least 75 to 85 percent share in the provision of adult primary care physician services, pediatric services, obstetrics and gynecology services. On July 9, 2019, after Sanford abandoned its acquisition of Mid Dakota Clinic, the Commission announced that it voted 5-0 to dismiss the case.
FTC Approves Final Order Imposing Conditions on Merger of Titanium Dioxide Companies Tronox Limited and Cristal
Tronox/Cristal USA, In the Matter of
The FTC issued an administrative complaint (and authorized staff to seek a TRO and PI which have not been filed) challenging the merger of two top suppliers of chloride process titanium dioxide (TiO2), a white pigment used in a wide variety of products including paint, industrial coatings, plastic, and paper. The FTC’s administrative complaint charges that Tronox Limited’s proposed acquisition of competitor Cristal, for $1.67 billion and a 24 percent stake in the combined entity, would violate the antitrust laws by significantly reducing competition in the North American market (comprised of the United States and Canada) for chloride process titanium dioxide. The FTC alleges that the acquisition, if consummated, would increase the risk of coordinated action among the remaining competitors, and increase the risk of future anticompetitive output reductions by Tronox.
Administrative Law Judge Upholds FTC’s Complaint Challenging Consummated Merger of Companies that Make Microprocessor Prosthetic Knees
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