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U.S. warns of crackdown on small deals.(Brief Article)

The Daily Deal

| September 17, 2001 | Seiberg, Jaret | COPYRIGHT 2001 The Deal LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Jaret Seiberg

WASHINGTON -- Joe Simons, director of the Federal Trade Commission's Bureau of Competition, said Sept. 17 the agency is prepared to fight anti-competitive mergers in court. He also suggested that several challenges to smaller transactions could be announced in the coming weeks.

"We are hoping we will have a significant amount of litigation, perhaps more than in the past," Simons said a "brown bag" lunch sponsored by the American Bar Association's antitrust section.

To prepare for potential legal challenges, the FTC has recruited skilled litigators to fill senior jobs in the competition bureau, Simons said.

For mergers exempt from Hart-Scott-Rodino Act notification requirements because they are valued at less than $50 million, the agency has a team of lawyers scouring press reports to identify combinations that raises antitrust issues.

"I would not be surprised if you saw some activity in that area fairly shortly," Simons said.

In wide-ranging remarks from the Washington offices of law firm Crowell & Moring, Simons said a goal of the competition bureau is to illuminate how the agency decides if a remedy sufficiently resolves the anticompetitive harm caused by a given deal.

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