For Your Information: April 23, 1996
The Federal Trade Commission today announced the following actions. The FTC staff contact is Dan Ducore, 202-326-2526.
Applications for prior approval of transactions: The FTC has received an application for prior approval of a divestiture from the following. The application will be subject to public comment for 30 days, until May 23.
- TCH Corporation, of Los Angeles, California, and its parent company, Green Equity Investors, L.P., have requested FTC approval to divest the pharmacy assets in the Thrifty drug store in Florence, Oregon, to Tiffany-Davis Drug Co., of Eugene, Oregon. Prior approval of the divestiture is required under a 1994 FTC consent order settling charges that TCH’s acquisition of the PayLess drug store chain would violate antitrust laws. The order is intended to restore pharmacy competition in retail drug stores in six areas, including Florence. Tiffany-Davis plans to operate the pharmacy out of the Bi-Mart Store at 4310 Highway 101 (see Aug. 19, 1994 news release regarding 1994 consent order; FTC Docket No. C-3519).
Commission action regarding applications for prior approval of transactions: Following a public comment period, the FTC has ruled on an application from the following:
- The FTC has approved Service Corporation International’s application to divest five funeral homes and two cemeteries to CFS Funeral Services, Inc. Both SCI and CFS are based in Houston, Texas. Three of the facilities being divested are in Amarillo, Texas; two are in Titusville, Florida; and two are in Cape Coral, Florida. The divestitures were required under a 1995 consent order settling charges that SCI’s acquisition of Gibraltar Mausoleum Corporation would violate antitrust laws; they are designed to restore competition for funeral or cemetery services in those areas (see Oct. 11, 1995 news release regarding the 1995 consent order; FTC Docket No. C-3646; Commission vote on April 16 was 5-0).
Commission action regarding petitions to reopen and modify orders: Following a public comment period, the Commission has ruled on a petition from the following:
- The Commission has granted in part the petition of Sun Company, Inc., of Radnor, Pennsylvania, to modify a 1989 consent order, thus ending Sun’s obligation to obtain FTC approval before acquiring any light petroleum products terminals or pipelines in certain parts of New York and Pennsylvania. The FTC has substituted a prior notice requirement for the prior approval requirement, however. The 1989 order settled FTC charges that Sun’s acquisition of Atlantic Petroleum Maatschappig, B.V. violated antitrust laws (see Nov. 4, 1988 news release regarding the consent order; Docket No. C-3246; Commission vote on April 18 was 5-0).
Comments on the TCH application should be addressed to the FTC, Office of the Secretary, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580. Copies of all documents referenced above are available from the FTC’s Public Reference Branch, Room 130, at the same address; 202-326-2222; TTY 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. FTC news releases and other materials also are available on the Internet at the FTC’s World Wide Web site at: http://www.ftc.gov
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