Release Date: April 23, 2002
In a 32-page opinion issued April 22, 2002, Judge Reggie B. Walton of the U.S. District Court for the District of Columbia granted the Federal Trade Commission's motion for a preliminary injunction challenging Libbey, Inc.'s (Libbey) proposed acquisition of Anchor Hocking, (Anchor) a wholly owned subsidiary of Newell Rubbermaid, Inc.
"The District Court decision affirm's the Commission's belief that Libbey's proposed acquisition of Anchor could reduce competition in the food service glassware market and potentially harm consumers through increased costs," said Joseph J. Simons, Director of the FTC's Bureau of Competition. "We are very pleased."
Libbey is the largest maker and seller of soda-lime glassware to the U.S. food service industry, with more than 65 percent of all U.S. food service glassware sales. Anchor is the third-largest seller of food service glassware and, as the Judge found, is "Libbey's most formidable competitor." The FTC argued before the court that the acquisition, if consummated, would eliminate the existing substantial competition between Libbey and Anchor, and would substantially reduce competition in the market for soda-lime glassware sold to the food service industry in the United States.
Copies of the Court's Memorandum Opinion 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. The FTC's Bureau of Competition seeks to prevent business practices that restrain competition. The Bureau carries out its mission by investigating alleged law violations and, when appropriate, recommending that the Commission take formal enforcement action. To notify the Bureau concerning particular business practices, call or write the Office of Policy and Evaluation, Room 394, Bureau of Competition, Federal Trade Commission, 600 Pennsylvania Ave, N.W., Washington, D.C. 20580, Electronic Mail: firstname.lastname@example.org; Telephone (202) 326-3300.
For more information on the laws that the Bureau enforces, the Commission has published "Promoting Competition, Protecting Consumers: A Plain English Guide to Antitrust Laws," which can be accessed at http://www.ftc.gov/bc/compguide/index.htm.
(FTC File No.: 011 0194)