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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CMTSU Liquidation Inc (CE) | USOTC:CBRI | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
WASHINGTON--After a brief period of uncertainty, U.S. antitrust regulators have sorted out which government agency will review Sysco Corp.'s merger with US Foods Inc.: the Federal Trade Commission.
The FTC shares antitrust authority with the Justice Department, and it isn't always clear which agency will take the reins in reviewing any given merger or acquisition. Each agency has expertise in certain sectors of the economy. Both have experience with food matters.
The Sysco-US Foods merger, announced in mid-December, would bring together the nation's two biggest food-distribution companies and is expected to receive close government scrutiny. Sysco has said it expects the regulatory review to take nine to 12 months.
A Sysco spokesman Friday confirmed the FTC will handle the review. An FTC spokesman declined to comment.
The FTC and Justice Department have different processes for handling merger investigations, which potentially can affect the manner and pace of the government review.
While the Justice Department has one final decision maker, the FTC is a five-member body that needs majority support to take action. The FTC also can bring merger challenges through its own administrative process instead of in federal court. The Justice Department doesn't have an administrative option.
Many antitrust lawyers consider the FTC process more laborious. However, observers believe the Justice Department has been more aggressive on merger challenges in recent years.
Write to Brent Kendall at brent.kendall@wsj.com and Annie Gasparro at annie.gasparro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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