The Federal Trade Commission today announced the following action.
Applications for approval of transactions: The FTC has received an application for approval of a transaction from the following. The FTC is seeking public comments on the application for 30 days, until January 13, 1999.
- Tejas Energy LLC has submitted a divestiture application requesting approval to divest parts of the ANR pipeline system to NorAm Field Services Corp. to comply with an FTC consent order that settles FTC charges that Tejas' purchase of gas gathering assets of The Coastal Corporation would violate antitrust laws. (See news release dated October 1, 1998; FTC File No. 981 0166; Staff contact is Daniel P. Ducore, 202-326-2526.)
Comments on the applications should be addressed to the FTC, Office of the Secretary, 600 Pennsylvania Avenue, N.W., Washington, DC 20580.
Commission action regarding applications for approval: Following a public comment period, the Commission has ruled on an application for approval of a transaction from the following:
- The Commission has approved Federal-Mogul Corporation's application to divest Glacier Vandervell Bearings Group to Dana Corporation. The divestiture is required under the terms of a final order with Federal-Mogul which settles charges that its $2.4 billion takeover of its competitor in the thinwall bearings industry, T&N, violated antitrust laws because, between them, the companies controlled a substantial percentage of thinwall bearing production in the United States. The Commission vote to approve the divestiture was 4-0. (See news releases dated March 6, 1998; December 9, 1998; Docket No. C-3836; FTC File No. 981 0011; Staff contact is Philip M. Eisenstat 202-326-2769)
Consent agreements given final approval: Following a public comment period, the Commission has made final a consent agreement with the following entity. The Commission action makes the consent order binding on the respondent.
- The Commission has approved a final order with Albertson's , Inc. that would settle FTC charges that Albertson's acquisition of Buttrey Food and Drug Store Company would violate antitrust laws by substantially lessening supermarket competition in Montana and Wyoming. Under the terms of the order Albertson's and Buttrey would divest 15 supermarkets in 11 communities - eight of the supermarkets are located in Montana and seven are in Wyoming. The Commission vote to approve the final order was 4-0. (See news release dated September 22, 1998; FTC File No. 9810134; Staff contact is Daniel P. Ducore, 202-326-2526.)
Copies of the documents referenced above are available from the FTC's web site at http://www.ftc.gov and also from the FTC's Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-3128; TDD for the hearing impaired 1-866-653-4261. To find out the latest news as it is announced, call the FTC NewsPhone recording at 202-326-2710.