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Konkurencja i konsument · 26.02.1996

Litton Industries, Inc.; Consent Agreement With Analysis to Aid Public Comment

This Consent Agreement, accepted subject to final Commission approval, settles alleged violations of federal law prohibiting unfair or deceptive acts or practices and unfair methods of competition arising from Litton's proposed acquisition of all of the voting securities of PRC Inc., in a transaction valued at approximately $425 million. The proposed complaint alleges that the acquisition, if consummated, would violate Section 7 of the Clayton Act, as amended, and Section 5 of the Federal Trade Commission Act, as amended, in the market for the research, development, manufacture and sale of Aegis destroyers for the United States Department of the Navy. The proposed consent order would, among other things, require Litton to divest all of the assets relating to the provision of systems engineering and technical assistance services (``SETA Services'') in support of the U.S. Department of the Navy's Aegis destroyer program. In addition, Litton has signed an Interim Agreement providing that the terms of the Consent Agreement will become effective immediately.

Source: Federal Register — Federal Trade CommissionOpen original release →