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1
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ORDER SETTING ASIDE ORDER
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EXTRACTED KEY WORDS
PRIOR APPROVAL POLICY APPROVAL POLICY STATEMENT PROVISION MERGER REOPENING SETTING ASIDE PRIOR NOTIFICATION FEDERAL TRADE COMMISSION PETITION NARROW PRIOR HONICKMAN MODIFY ACT MATTER ANTICOMPETITIVE MERGER PRESUMPTION ACQUISITION HEREBY AZCUENAGA HAROLD DOCKET PURSUANT CONSISTENT PRIOR NOTICE PROVISIONS REQUESTS TERMINATE HSR REVIEWING CREDIBLE RISK |
UNITED STATES OF AMERICA
BEFORE FEDERAL TRADE COMMISSION
Commissioners:
Robert Pitofsky, Chairman
Mary L. Azcuenaga
Sheila F. Anthony
Mozelle W. Thompson
Orson Swindle
In the Matter of
HAROLD A. HONICKMAN, et al.
DOCKET NO. 9233
ORDER SETTING ASIDE ORDER
On November 5, 1997, Harold A. Honickman ("Honickman") filed a
Petition To Modify Consent Order ("Petition") in Docket
No. 9233 ("Order") pursuant to Section 5(b) of the Federal Trade
Commission Act, 15 U.S.C. § 45(b), and Section 2.51 of the
Commission's Rules of Practice and Procedure, 16 C.F.R. § 2.51, and
consistent with the Statement of Federal Trade Commission Policy
Concerning Prior Approval And Prior Notice Provisions ("Prior Approval
Policy Statement"). The Petition requests that the Commission reopen
and modify the Order to terminate the prior approval provision set
forth in Paragraph II of the Order. The Petition was placed on the
public record for thirty days and no comments were received. The
Commission has determined to terminate the prior approval provision of
the Order by setting aside the Order.
The Commission, in its Prior Approval Policy Statement, "concluded
that a general policy of requiring prior approval is no longer
needed," citing the availability of the premerger notification and
waiting period requirements of Section 7A of the Clayton Act, commonly
referred to as the Hart-Scott-Rodino ("HSR") Act, 15 U.S.C. § 18a, to
protect the public interest in effective merger law enforcement. The
Commission announced that it will "henceforth rely on the HSR process
as its principal means of learning about and reviewing mergers by
companies as to which the Commission had previously found a reason to
believe that the companies had engaged or attempted to engage in an
illegal merger." As a general matter, "Commission orders in such cases
will not include prior approval or prior notification requirements."
The Commission stated that it will continue to fashion remedies as
needed in the public interest, including ordering narrow prior
SNIPPETS:
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