29182 I Proposed Rules Federal Trade Commission

29182 I Proposed Rules Federal Trade Commission-Free PDF

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Federal Register Vol 47 No 128 Friday July 2 1982 Proposed Rules 29183. Professor Thompson s study Evaluation Department of Justice and the. of the Premerger Notification Program investigatory authority conferred by the. is available from the Federal Trade Hart Scott Rodino amendments All. Commission which funded the study premerger notification filings are sent to. The Federal Trade Commission s both agencies because both have. premerger notification office has begun authority under the Clayton Antitrust. a project to lessen the burden of Act to prevent unlawful transactions. complying with the notification rules for and each agency briefly reviews all. persons who are unfamiliar with the filings If either or both agencies decide. rules The premerger notification office the transaction should be scrutinized. is preparing two sets of introductory more closely then a clearance process. materials One set will explain in is undertaken to insure that only one. simplified terms what transactions are agency will proceed with an. subject to the prior notification investigation If further analysis. requirements of the rules and will suggests the possibility of an antitrust. provide references to key sections of the violation the investigating agency will. rules The other will explain in basic typically utilize the premerger act s. terms how to fill out the notification authority to issue a request for. form and provide examples of common additional information second. entries The Commission welcomes request to the parties to the. suggestions from the public on topics to transaction. be included in these introductory,Clearance and second requests. The Federal Trade Commission also have been chosen as measures of. welcomes comments on the information enforcement interest rather than. contained in Part Two and the questions lawsuits brought or won or settlements. raised in Part Three of this notice agreed upon for two reasons First the. number of instances in which lawsuits, Part Two are instituted or settlements are reached. A A Profile ofPremerger Notlfication are too few to draw conclusions about. Transactions and Preliminary the relevance of the various criteria. E lforcement Activities During 1981 Second and mpre importantly the. purpose of the Hart Scott Rodino,The tables in this section provide a. amendments was to provide premerger,statistical profile of merger and. scrutiny of those transactions that are, acquisition transactions that were likely to violate the antitrust laws The.
subject to filing requirements during universe of tran8actiorul that ought to. 1981 The transactions have been,receive close review oorresponds most. grouped according to various criteria,closely to those where clearancli has. e g size of transaction size of, acquiring firm peroentage of voting been granted or a second request has. securities acquired and industry issued, grouping The various criteria are The current universe of transactions. compared in the tables with the level of for specific industries is too small to. enforcement interest as indicated by a suggest any pattern of enforcement. clearance or a second request activity by size of transaction. The measures of enforcement interest Accordingly the tables only detail. chosen reflect the division of enforcement activity by industry group. enforcement authoritY between the, Federal trade Commission and the BILUNG CODE 675 HJ1 M.
HeinOnline 47 Fed Reg 29183 1982,NXmSITItH9 BY SIZE Y 1981. By Size Range,mANS1C1 IOf, l ransactiM H S R l ransaeticns Clearance Granted to or OOJ 8e lord ts Issued. MIulcns y jJ r Percent y r Percerit Y,1m E 1m 1m 1m. Lea than 15 17 11 7 8 0 3 4 11 5 2 1 2 1 1 3 4, 15 f to25 173 22 7 13 12 7 5 6 9 14 5 9 6 5 2 3 5 8 7 ctI. 25 f toSO 201 27 2 2 18 11 1 8 7 19 8 6 7 2 9 3 4 6. SO f to 100 125 16 4 18 9 14 4 7 2 21 6 12 5 9 6 4 0 13 6. 100 f to 150 5 7 0 6 11 5 7 17 0 4 7 5 7 5,l5O f to200.
200 to 300,3OO f toSOO,HeinOnline 47 Fed Reg 29184 1982. SOD f to 1000 18 2 6 3 ll l 16 7 50 0 1 2 16 7 11 1 27 8. 1000 n f 18 2 4 6 5 ll l 27 8 61 1 2 16 7 11 1 2 7 1. All l ranaectlcnB 762 100 1 104 62 13 6 8 1 21 8 51 21 6 7 3 5 10 2 Q. Y ftle size of transactioo is based m the agqreqate total lIIlD lnt of IIOting securities and assets to be held b f the. lICCJJiring perscn as a result of ttl t lll lSactloo am is taken hCII the response to it enl l e of the prellerger. rotlfication and report fom J, Y DlrllllJ calendar year 1981 1083 transactions ere reported umer the Hart eoott IbJlro prenerger rotiflcaticn. progrillll ftle IIlIaller rurtler 762 reflects lKi ust nlents to ellJllinate the following types of transacticnsl 1 211. transacticns reported under Sectlcns 7A e 6 and A e 8 transactions iOllOlv11llJ certain financial businesses and. regulated in llstrles I 27 transactlons ich were followed by separate notlficaticns for one or mre acl Iltlonal. transacticns between the 8iIIle parties dJrlng 1981 such transactions are listed here as a single consoUdated. transactim r 3 31 transacticns foun l to be IOl reportable 4 4 IllCQll lete transactions ooly one party to the 0. transaction fUed mtification and CS 48 secondary acquisitions CfUed pursuant to Section aOl lOCa 4 I reported as CD. a result of reportable primary transactions The table OOes not however exclooe 23 cx np ting offers or 4 nu1tlpl e. party transacti transactions lnllOlving bID or IIDre acquirllllJ or aoIUlred persons. Percentage of total transactlcns CIl,y Percentage of transaction range grcup. I Detail MY not add to total to rcudllllJ,HXJ ISITI06 BY SIZE OF J RI HSAC I Im y 19B1. ClmJlativel, Transact ion AmJunt H S R Transactions Clearance Granted to PfC or OOJ 5eo nd R quests tBBued.
MilUm Percentage of Percen or,Total NlmJer of Total Nlmtler of. y NlJ tler Clearances Granted N JItler Seoond Requests. FIt Total rn OOJ Fi C 0CiJ Total, Less than 15 81 U 4 7 3 4 2 l B 6 0 2 I 2 6 1 3 3 8 l J. Less than 25 260 34 1 20 15 12 0 9 0 n 1 U 7 14 1 9 0 23 1 c. Less than 50 467 61 3 0 33 25 9 19 9 45 8 17 14 21 8 17 9 39 7. Less than 100 592 77 7 61 n 36 7 25 3 62 0 29 19 37 2 24 4 61 5 Q. Less than 150 645 84 6 67 45 40 4 27 1 67 5 33 19 n 3 24 4 66 7. Less than 200,Less than 300,HeinOnline 47 Fed Reg 29185 1982. Less than SOD 126 95 3 92 54 55 4 32 5 88 0 45 23 57 7 29 5 81 2 l. Less than 1000 744 97 6 98 57 59 0 34 3 9J 4 4B 25 61 5 32 1 93 6 Z. All trlll lUCtions 762 100 0 104 62 62 1 31 3 100 0 51 21 65 4 34 6 1 00 0. Y ftle size of transactim is b Ised m the aggregate total lIIID1nt of voting securities and assets to be held by the. acquiring persm IllI a result of the transactim and is taken freID the response to item 3 e of the premerqer 0. rotification aM report fom o, y OOring calendar year 1981 1083 transactions 1lere reported under the Hart 5cott loUro premerger mtification Cll. program n1e lIIIaller romer 162 retlect s adjustJllents to elimil lte the folloollng types of transactionsl 1 211 0. transactions reported under sections 7A c 61 and lA cl BI transactions involving certain financial businesses and 0. regulated industriesl 21 21 transactions lllhich were followed bv separate notifications for one or IIDre additional. transactions between the saJ1I parties during 19B1 ISuch transactions are 1 isted here as a single oonsoridated. transactim 3 31 transactions fcurd to be non reportable 4 ilO llPlete transactions looly one party to thlt en. transaction filed notificationl am 5 4B seca ldary acquisitions filed pursuant to section BOl 301al 411 reported as. a result of reportable primary transactions Mle table does not however exclude 23 cnJtletlng offers or 74 nultiple. party transactions transactions involVing bolO or IIDre acquiring or l1ICXl Iired persons. I Detail rNrf not add to total due to rwndlng,nUIlB III t l.
ftWlSIICl ICNS DMXNIN nI GRNfl D CR CU ARNCB BY 1lGBCY 1981. l ransactlon Clearance Granted Clearance Granted as a Percentage ofe. MUUonS By Aqercy ransactIOns n,bta 1 llI tler of Each l ransacUan of. lbtal tbltler,Transactloos 1 Range GrO y Clearances Granted. 2 i Q bUr Q f Q, Leu thin 15 7 3 10 0 9 0 4 1 3 8 0 3 4 U 5 4 2 1 8 6 0. 15 I to 25 13 12 25 1 7 1 6 3 7 5 6 9 14 5 7 8 7 2 15 1 c. 25 I to 50 23 18 41 3 0 2 4 5 4 11 1 8 7 19 8 13 9 10 8 24 7 a. 5O I tolDO 18 9 71 2 4 1 2 3 5 14 4 7 2 21 6 10 8 5 4 16 3 co. lDO I tol5O 6 3 9 0 8 0 4 1 2 11 5 7 17 0 3 6 1 8 5 4. 150 I to 200,200 l p to 300,HeinOnline 47 Fed Reg 29186 1982. JOOl pto500 10 3 13 1 3 0 4 1 7 43 4 13 0 56 5 6 0 1 8 7 8 l. SOD l p to 1000 6 3 9 0 8 0 4 1 2 33 3 16 7 50 0 3 6 1 8 5 4 Z. 1000 r i l p 6 5 U 0 8 0 7 1 4 33 3 27 8 61 1 3 6 3 0 1 1. All Clearances 104 62 166 13 6 8 1 21 8 13 6 8 1 21 8 62 7 37 3 100 0. Y blrlng calendar year 19B1 1083 tranaactlona wre repxted WIder the Hart tt ltldl premerger tlflcatlan. progr ft1e Uer ruaber 762 reflects tjustments 0 eUainate the follatlng types of transactionse fU 211. transactions reported wder sections 7A e 6 ad 7A e If transactions involvllY l certain financ al businesses arwJ O l. recplated irdJstries 2 27 tr ticnJ V1idl were follClWl d bf separate notificaUalS fae one ae mre altiitlallli. transactiOl18 between the same parUes cluing 1981 such transactions are Hsted here as a single CXlIlSOlidated. transEtion 3 31 transactlcnJ fcurd to be nm reportable 4 4 iro Jl1llete transactions oolV one party to the. transaction fUed mt1fication ad 5 48 lEOOl ldarvacquisitions ffiled pursuant to section B01 30fa 4 repocted. a result of reportable primary transactioos ft1e table does not however exclude 23 caJt leting offers or 74 lUple t l. party transactions transactions involvllY l b ae IIDre acquiring ae acquired persons o. Y Percenbges aIm awear In NIB I,Ibtel DetAU rot add to total cbt to raurr lng So.
lWtN W TUHi DMlLVOO nIB ISSUNCB or StXDI 1lfXJJl Sl S 1981. Transactlm Transactions Involving Seoond Requests Issued as a Percentage of. 1 MillIonS the Issuance of Ibtal tmtJerof l raiiSactlons In Each l6til r of. Second Requests Transactlms 1 Transactloo Ran e Gr Q 2 Seoond Requests. m l m Ibtal n m m, Ifill tNn 15 2 1 3 0 3 0 1 0 4 2 3 1 1 3 4 2 6 1 3 3 8. 1 2 0 8 2 0 5 2 3 5 1 7 U 5 1 7 U 2 1 J,15 14 to 25 9 6 15 CIl. 6 1 U 0 8 0 9 1 7 2 9 3 4 6 3 1 1 9 0 16 7, SOlfltolOO 12 5 17 1 6 0 1 2 2 9 6 4 0 U 6 15 4 6 4 21 8 0. 100 1fI to 150 4 4 0 5 0 5 7 5 1 5 5 1 5 1 II,150 1fI to 200. 200 1fI b 300,7 7 1 3 t O, 3OO to soo 4 3 7 0 5 0 4 0 9 11 4 13 0 30 4 5 1 3 8 t O.
HeinOnline 47 Fed Reg 29187 1982, SOO to 1000 3 2 5 0 4 0 3 0 1 16 7 U l 27 1 3 8 2 6 6 4 1. 1000 and 3 2 5 0 4 0 3 0 7 16 1 U l 27 1 3 8 2 6 6 4. All TransactiCIM 51 27 18 6 1 3 5 10 2 6 7 3 5 10 2 65 4 34 6 100 0 co. Y Iklting calendar year 198 1083 transactions tIllre reported W lder the Hart Sc ott l ldino premerger notificatim. progrM nle B1Ia11er rumer 162 reflects adjustlllents to ellJalnate the following types of transactions 1 211. transactions repxted W lder SectiOl 18 lAlel 6 and 7A el 81 transactions involving certain financial businesses and. rec J1lated inr 1lstries 2 27 transactions idl were followed bf separate notifications fex me ex Imre additional. trlll l8aCtions bebileen the BaIIle parties Iring 1981 l5ucn transactions are listed here as a single oonsoUdated. transactim 3 31 transactions fcurd to be non reportable 4 4 1l1lXllPlete transactima Iooly one party to the. transactioo fUed Mtificatioo and 5 48 IIeCXlIWry lsltions fUed pursuant to Sectim 801 30 la 4 reported as tl. a result of reportable prlJnary transactions TtIe table OOes not lnIever exclude 2 CXIlp t1ng offers or 14 alltiple 0. party transactions transactions involving bolO ex lIDCe lring ex lred persons 0. 11 Percentages also In WIE I C,Detail Mf not add to total to ramding c. 1QJJ1Sl l IQG BY JIDIlJmlC ftRSJDD 1981, ftIresho1cl H S R l ransactlona Clearance Granted to or OOJ Second Requests Issued. Percentage of Percentage, y tbIber I tIrestnld Grnp tbiber I tIreshold Group. tnJ Yo OOJ Z lbtat,15 JI1UIal,27 1 5 1 10 4 2 1 12 5.
25 U 5 4 5 2 12 2 4 9 17 1 2 4 9 4 t,SO 470 51 7 6 3C 1 4 7 2 20 4 24 14 5 1 0 8 1. All ranaactlCllll,HeinOnline 47 Fed Reg 29188 1982. y D1rlD calendar year 1981 108 tranaactlona were reported lI1der the Hart 6cott loHno premerger notlflcatlcn. progrilll ftIe Sllilller rurbec 762 reflects adjustments to ellalnate the follGllng types of transactlOl8I fl 211. transactlOl8 reported Inter sections 7Ale 6 and 7A e 8 transactlOl8 Involving certain financial businesses and c e. ce J Ilated IrdJstries J 2 27 transactlona 1m were followed bf separate noUflcations fIX one IX DXe additional. transactlona between the same parties clJring 1981 suctJ transactiona are listed here as a single consolidated. transactloo J J 31 transactlona fowd to be rcn reportable 4 4 illXllPlete transactlona ooly ate party to the. transactloo fUed notlflcatioo am 5 48 seoordary ilO IUisitlona filed pursuant to Sectioo 801 30 a 4 repocted as tl. a result of reportable primary transactlUlS ftIe table does not hOoIever ellClude 23 cx lqletlng offers or 74 nultip1e 0. party transactions ansactlona InvolvlD bID IX mre ilO IUlr lng IX ilO IU1red persons 0. Notel DetaU MY not d to total to founHng c,Br ASSeI S t I HXJ IRDG JIf2DII 1981. H S R transactions Clearanoe Granted to PIe or rnJ Seo nI lsaued. ii WCIM l ercentaqe of Percentage of I, YPercent tlaltler Asset Range Group Asset Range CrO I. Lela thin 15,15 to2S lO 1 3 1 lO O lO O 1 10 0 10 0.
29182 Federal Register I Vol 47 No 128 I Friday July 2 1982 I Proposed Rules FEDERAL TRADE COMMISSION 16 CFR Parts 801 802 and 803 Premerger Notification Program Paperwork Burden AGENCY Federal Trade Commission AcnON Notice ofreque st for comments SUMMARY The purpose ofthis notice of request for comments by eFederal Trade Commission i l to incorporate public views on the operation

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