Diane's Feed
Nov 6, 2015

After big spending and hard lobbying, Pfizer eyes new tax home

WASHINGTON, Nov 6 (Reuters) – Pfizer Chief Executive Ian
Read, who has been lobbying Congress regularly for a corporate
tax cut, is trying for the second time in as many years to do a
deal with a foreign company that could produce the savings he
has been unable to extract from Washington.

Pfizer Inc, which is pursuing a deal for
Dublin-based Allergan Plc, was one of the top spenders
among pharmaceutical companies lobbying the U.S. government in
2014, according to data from the Center for Responsive Politics.

Nov 5, 2015

No settlement likely as Electrolux heads to trial over GE bid

WASHINGTON, Nov 5 (Reuters) – AB Electrolux is
not in settlement talks with the U.S. Justice Department on its
bid for General Electric’s appliance business, a lawyer
for Electrolux said on Thursday as the two sides prepared for a
trial starting next week.

The United States asked a federal court in July to stop
Electrolux, which makes Frigidaire, Kenmore and Tappan
appliances, from buying GE’s appliance business for $3.3
billion. The two sides go before a judge on Monday.

Nov 4, 2015

Four U.S. debt collectors shut down for illegal practices – FTC

By Diane Bartz

(Reuters) – The U.S. government has shut down four debt
collection companies that used abusive tactics, in some cases to
pursue people who owed nothing, the Federal Trade Commission
said on Wednesday.

The agency said it was part of a coordinated effort by law
enforcement to crack down on debt collection companies that used
illegal tactics like threats of arrest and harassing phone
calls. The group cited 115 actions this year.

Nov 4, 2015

FTC approves Mylan’s hostile bid for Perrigo with conditions

WASHINGTON (Reuters) – Mylan received U.S. antitrust
approval for its hostile bid for Irish-based generic drugmaker
Perrigo Co under the condition Mylan sells seven drugs
to Alvogen Group Inc, the Federal Trade Commission said on

Netherlands-based Mylan made an offer for Perrigo in April,
which was rejected, and went hostile in September. Perrigo
shareholders have until Nov. 13 to accept its tender offer.
Under Irish law, Mylan needs 80 percent of shareholders’ votes
to take control of Perrigo.

Oct 30, 2015

U.S. Justice Dept. rejects Electrolux proposal on GE appliance business

WASHINGTON (Reuters) – The U.S. Justice Department rejected
an Electrolux offer to settle a fight over whether
the Swedish company would be allowed to buy General Electric’s
appliance business, saying it was inadequate.

Justice Department lawyer Ethan Glass said on Friday “the
proposal was well short of replacing competition” that would
have been lost because of the deal.

Oct 30, 2015

U.S. antitrust enforcers could undo Valeant lens monopoly: lawyers

WASHINGTON (Reuters) – U.S. antitrust regulators could push Valeant Pharmaceuticals International Inc to sell part of its specialty contact lens materials business so it would lose the market dominance it built through two acquisitions, antitrust attorneys said.

The U.S. Federal Trade Commission is investigating the Canadian drugmaker’s purchase of Paragon Vision Sciences in May, Valeant said in a government filing on Monday. Valeant disclosed that it had received a letter from the FTC on or about Oct. 16 seeking information about the Paragon deal.

Oct 28, 2015

Senators call for scrutiny of Walgreens-Rite Aid deal

Oct 28 (Reuters) – Two influential U.S. senators called for
close scrutiny of Walgreens Boots Alliance Inc’s plan to
buy Rite Aid Corp for $9.4 billion, a deal that would
unite two of the three biggest U.S. drugstore chains.

Walgreens Chief Executive Stefano Pessina said the company
had analyzed the antitrust aspect of the deal but would not
speculate on the number of drugstores it might need to divest in
order to win regulatory approval.

Oct 28, 2015

Factbox: Refugee flows to United States since 1950s

By Diane Bartz

(Reuters) – Turmoil abroad regularly brings refugees to the United States. British and Germans arrived after World War Two. More recently, Vietnamese and others fleeing war and disorder have arrived on U.S. shores. A wave of Syrians is expected soon.

CUBA: Cubans began arriving in the United States in large numbers after Fidel Castro took power in 1959, with 300,000 coming between 1965 and 1973. The 1980 Mariel boatlift brought another 125,000. Thousands have since made the perilous trip from Cuba to Florida. Some 1.1 million Cubans were here as of 2013.

Oct 21, 2015

Electrolux offers to settle U.S. antitrust fight over appliance deal

By Diane Bartz

(Reuters) – AB Electrolux has offered to settle
its fight with the Justice Department over whether it will be
allowed to buy General Electric’s appliance business, but
the U.S. Justice Department’s initial reaction to the offer was

Electrolux gave an offer to the Justice Department on
Tuesday, said Electrolux lawyer John Majoras in a pre-trial
hearing on Wednesday. Majoras said that Electrolux was working
with third parties who may be interested in buying divested
assets but did not say which assets those were.

Oct 20, 2015

U.S. ends probe of Wal-Mart on ‘Made in USA’ logo

WASHINGTON (Reuters) – The Federal Trade Commission, which
enforces U.S. laws against deceptive ads, said Tuesday that it
had closed a probe of Wal-Mart Stores Inc after the
company addressed the problem of products advertised as “Made in
USA” when they were not.

The FTC closed the probe without action after Wal-Mart
dropped all “Made in USA” logos from products on its website,
the FTC said in a letter to the company that was posted on the
agency’s website. (1.usa.gov/1KqzNkU)