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Byline: Donna Block in Washington
In a case with important ramifications for merger enforcement, the Federal Trade Commission on Thursday, Jan. 6, upheld its ruling that Chicago Bridge & Iron Co. NV's 2001 acquisition of a unit owned by Pitt-Des Moines Inc. violated antitrust law.
The FTC affirmed a 2003 ruling by an administrative law judge on the agency's challenge to the deal, under which CB&I bought the engineered construction division for $84 million.
To restore competition as it existed before the merger, the commission ordered CB&I to take what antitrust experts said is a highly unusual step. The Woodlands, Texas-based company must create two …