Diane's Feed
Oct 20, 2014

U.S. Senators seek antitrust scrutiny of Sysco deal to buy U.S. Foods

WASHINGTON, Oct 20 (Reuters) – The top two lawmakers on the
Senate’s antitrust panel have urged regulators to scrutinize
food distributor Sysco Corp’s planned purchase of rival U.S.
Foods for $3.5 billion.

In a letter obtained exclusively by Reuters, Senators Amy
Klobuchar and Mike Lee, the chairwoman and ranking member of the
Senate’s antitrust subcommittee, said the deal being
investigated by the Federal Trade Commission “raises important
competition issues the commission should carefully review and
closely scrutinize.”

Oct 17, 2014

DEAL TALK: U.S. DOJ digs into Comcast’s Internet reach in merger review

WASHINGTON (Reuters) – The leverage a bigger Comcast Corp could wield over Internet access nationally is one of the key issues U.S. antitrust regulators are discussing in meetings about the proposed merger with cable rival Time Warner Cable Inc, according to sources who have attended such meetings.

Investigators from the U.S. Department of Justice (DOJ), who could block the $45 billion merger plan, have held numerous confidential meetings with Comcast’s competitors, partners, interest groups and other stakeholders.

Oct 16, 2014

White House nominates former Google exec Lee to head patent office

WASHINGTON (Reuters) – The White House on Thursday nominated Michelle Lee to be director of the U.S. Patent and Trademark Office, which the former executive with Internet giant Google Inc has led on an acting basis since January.

The USPTO, regarded as the steward of U.S. intellectual property, employs about 12,000 people. It has long been under fire for taking more than two years to consider many patent applications.

Oct 16, 2014

Sysco looks to divestitures to nail down US Foods deal

WASHINGTON, Oct 16 (Reuters) – Food distributor Sysco Corp
, fighting to complete a merger with U.S. Foods Inc
, is attempting to craft a package of potential asset
sales weighty enough to convince U.S. antitrust regulators to
approve the deal.

The proposed tie-up is seen as problematic because Sysco and
U.S. Foods are the only companies with the geographic reach to
offer nationwide contracts to deliver a wide range of goods to
customers ranging from hotel chains to fast food restaurants.

Oct 13, 2014

Bid report boosts CSX stock, but deal seen unlikely

CHICAGO, Oct 13 (Reuters) – Shares of No. 3 U.S. railroad
CSX Corp rose nearly 10 percent on Monday following a
report of a rebuffed takeover bid by Canadian Pacific Railway
Ltd, but analysts said any such deal would face
significant regulatory and other hurdles.

“You could make the argument that there is not much overlap
between the two networks and between their businesses,” said Jim
Corridore, head of industrials equity research at Standard &
Poor’s. “But they would face significant hurdles of getting a
merger passed by the U.S. Surface Transportation Board (STB).”

Oct 13, 2014

Bid report lifts CSX stock, but analysts skeptical of deal

CHICAGO, Oct 13 (Reuters) – Shares of No. 3 U.S. railroad
CSX Corp rose nearly 10 percent on Monday following a
report of a rebuffed takeover bid by Canadian Pacific Railway
Ltd, but analysts said any such deal would face
significant regulatory and other hurdles.

According to the report in the Wall Street Journal late on
Sunday, the No. 2 Canadian railroad made a bid last week for
Jacksonville, Florida-based CSX, which rejected the offer. Both
companies said they did not comment on market rumors.

Oct 8, 2014

AT&T to pay $105 million to settle charges it ‘crammed’ phone bills

WASHINGTON (Reuters) – Telecommunications giant AT&T Inc (T.N: Quote, Profile, Research, Stock Buzz) has agreed to pay $105 million to settle allegations that it put unauthorized charges on customers’ cell phone bills, a practice known as cramming, a source told Reuters on Wednesday.

The settlement comes after years of complaints from consumers about being charged for services, for example daily horoscopes, that they never requested.

Oct 8, 2014

AT&T to pay $105 mln to settle charges it “crammed” phone bills

WASHINGTON, Oct 8 (Reuters) – Telecommunications giant AT&T
Inc has agreed to pay $105 million to settle allegations
that it put unauthorized charges on customers’ cell phone bills,
a practice known as cramming, a source told Reuters on
Wednesday.

The settlement comes after years of complaints from
consumers about being charged for services, for example daily
horoscopes, that they never requested.

Oct 6, 2014

Exclusive: Herbalife hires former U.S. regulator to head compliance team

WASHINGTON (Reuters) – Herbalife Ltd, the marketer of weight-management products, energy drinks and nutrition supplements that has come under investigation by the Federal Trade Commission as well as other agencies, has hired a former FTC official as its chief compliance officer.

Herbalife (HLF.N: Quote, Profile, Research, Stock Buzz) said it named Pamela Jones Harbour, who was an FTC commissioner from 2003 to 2010, as senior vice president, global member compliance and privacy. She will be in charge of the company’s 300-member compliance team and coordinate global compliance.

Oct 3, 2014

Exclusive: Acting head of U.S. patent office considered for top job permanently- sources

WASHINGTON (Reuters) – The acting head of the U.S. Patent and Trademark Office, former Google Inc executive Michelle Lee, is being seriously considered to permanently head the agency, sources have told Reuters.

Lee, a former deputy general counsel and head of patents and patent strategy at Google, the search and advertising group, has been acting head of the agency since January. After leaving Google and before coming to the Virginia-based patent office, Lee headed the U.S. patent office’s Silicon Valley outpost.