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FTC Commissioner Joshua D. Wright to Resign

Date
Joshua D. Wright, who has served as a Commissioner of the Federal Trade Commission since January 2013, will resign his position with his last day as a commissioner on Monday, August 24, 2015. “It has...

Reynolds American Inc., and Lorillard, Inc., In the Matter of

Tobacco companies Reynolds American Inc. and Lorillard Inc. agreed to divest four cigarette brands to Imperial Tobacco Group to settle FTC charges that their proposed $27.4 billion merger would likely be anticompetitive. The order requires Reynolds to divest to Imperial four established cigarette brands: Winston, Kool, Salem, and Maverick. Imperial is an international tobacco manufacturer with a competitive presence in about 70 countries, but a comparatively small presence in the United States. With the acquisition of the divested assets, Imperial would become a more substantial competitor in the United States. The Commission’s order requires not only that the brands be divested, but also that Reynolds divest to Imperial the Lorillard manufacturing facilities in Greensboro, North Carolina, and provide Imperial with the opportunity to hire most of the existing Lorillard management, staff, and salesforce. It also requires the newly merged Reynolds and Lorillard to provide Imperial with retail shelf space for a short period, and to provide other operational support during the transition.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
141 0168