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.