Commission action regarding applications for approval:Applications for approval of transactions:Commission extension of public comment period:
- The FTC has approved several agreements in the following matter: BP-Amoco p.l.c./Atlantic Richfield Company. The Commission has approved certain agreements required by Paragraph II.C. of the proposed Decision and Order in this matter, which the Commission accepted for public comment on April 13, 2000. The consent agreement concerns the merger of BP-Amoco and ARCO, and requires divestiture of ARCO's Alaska Assets to Phillips Petroleum Company. Paragraph II.C of the consent requires BP-Amoco to enter into various licensing agreements for intellectual property, and a Transition Services Agreement that will provide Phillips with certain transition services for operation of the Alaska Assets which were divested on April 25, 2000. The Commission's prior approval of the agreements was necessary before the divestiture could occur.
Because all of the material information related to these agreements has already been publicly released in the consent agreement (e.g., the parties to the agreements, and the terms of the agreements) and because of the strong public interest in the prompt closing of the divestiture to Phillips, the Commission determined that the public comment period could be eliminated. The Commission vote to approve the agreements and eliminate the public comment period was 5-0. (File No. 991-0192; staff contact is Daniel P. Ducore, 202-326-2526; see press release dated April 13, 2000.)
- The FTC has received an application for the approval of a proposed divestiture from the following: Fidelity National Financial, Inc. The application concerns Fidelity National's request for Commission approval to sell all of the rights, title and interest of Chicago Title Insurance Company (Chicago) to the San Luis Obispo Joint Title Plant (SLO), to Stewart Title of California, Inc. Fidelity has also requested, pursuant to Paragraph II.B.(1) of the order that Chicago, which is now owned by Fidelity, be permitted to keep a copy of the SLO Joint Plant's data covering the period prior to the divestiture. The application was made pursuant to the Commission's order in Docket No. C-3929.
The Commission is seeking public comment on the application for 30 days, until May 30, 2000. Comments should be sent to the Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington, D.C. 20580. (Docket No. C-3929; staff contact is Daniel P. Ducore, 202-326-2526; see press release dated January 12, 2000.)
- The FTC has unanimously approved a staff recommendation to extend the public comment period for the following: Telemarketing Sales Rule review. A Federal Register notice announcing the extension of the public comment period until May 30, 2000 will be published shortly. (FTC File No. P994414; staff contact is Catherine C. Harrington-McBride, 202-326-2452; see press release dated February 23, 2000.)
Copies of the documents mentioned in this release 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; 877-FTC-HELP (877-382-4357); 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.