WASHINGTON (Reuters) – A former executive of Japan’s Toyoda
Gosei Co Ltd has agreed to plead guilty to price fixing and
rigging bids for auto parts made for cars sold in the United
States, the Justice Department said on Tuesday.
As part of the deal, Japanese national Makoto Horie agreed
to serve one year and a day in prison and to pay a criminal fine
of $20,000, the department said.
WASHINGTON (Reuters) – The proposed merger of Sysco Corp (SYY.N: Quote, Profile, Research, Stock Buzz) and US Foods Inc [USFOO.UL] hinges on the top two U.S. food companies helping to turn a far smaller rival into a national player to ease antitrust concerns, but the gap may be too big, analysts said.
Sysco and US Foods, the only two companies with national distribution to hospitals, restaurants and schools, have been discussing the sale of assets such as distribution centers to No. 3 Performance Food Group. Many of those centers are in the western United States, where Performance has little or no presence.
WASHINGTON, Dec 22 (Reuters) – Eli Lilly and Co has
won approval to buy Novartis AG’s animal health unit
on condition that it divests its Sentinel line of products for
treating heartworm in dogs, the Federal Trade Commission said on
The French company Virbac SA will buy the Sentinel
product line now owned by Novartis Animal Health, the FTC said.
WASHINGTON, Dec 19 (Reuters) – T-Mobile US has
agreed to settle a lawsuit filed by the U.S. government over
unauthorized charges placed on customers’ bills, a practice
known as cramming, and to pay at least $90 million, two U.S.
agencies said on Friday.
The Federal Trade Commission had filed a complaint against
T-Mobile in July, saying the company had put subscriptions for
services like horoscopes or celebrity gossip delivered by text
messages on consumers’ mobile phone bills, often without their
WASHINGTON (Reuters) – Verisk Analytics’ said on
Tuesday it would scrap its plan to buy EagleView Technology Corp
because the Federal Trade Commission said it would file a
lawsuit to block the deal.
If the merger were to have gone forward, the new firm would
have had a virtual monopoly in the market for helping insurance
companies to figure out what it will cost to fix damaged roofs,
the FTC said.
WASHINGTON (Reuters) – Minnesota’s attorney general expressed concern about the merger of food distribution giants Sysco Corp and US Foods [USFOO.UL], saying it was questionable whether any divestiture could restore competition lost in the transaction.
Minnesota Attorney General Lori Swanson said in a Dec. 10 letter that her office had heard complaints from Minnesota-based restaurants that the $3.5 billion acquisition would leave them “fewer choices among distributors and potentially resulting in higher prices for consumers.”
WASHINGTON (Reuters) – Minnesota’s attorney general has
expressed concern about the merger of food distribution giants
Sysco Corp and US Foods, saying it was questionable whether any
divestiture could restore competition lost to the transaction.
Minnesota Attorney General Lori Swanson said in a Dec. 10
letter that her office had heard complaints from Minnesota-based
restaurants that the $3.5 billion acquisition would leave them
“fewer choices among distributors and potentially resulting in
higher prices for consumers.”
WASHINGTON/TORONTO (Reuters) – German auto supplier
Continental AG won both U.S. and Canadian antitrust
approval to buy Veyance Technologies, a U.S.-based maker of
industrial hoses and belting, on condition that it sells certain
assets, regulators said on Thursday.
The U.S. Department of Justice said it approved the proposed
1.4 billion euro ($1.73 billion) deal for Ohio-based Veyance if
Veyance sold its North American commercial vehicle air springs
WASHINGTON, Dec 11 (Reuters) – Pennsylvania’s two U.S.
senators urged regulators on Thursday to approve “as soon as
possible” Comcast’s plan to merge with Time Warner Cable, saying
there were many potential benefits from the proposed tie-up that
is opposed by some consumer groups and rival companies.
Senators Bob Casey, a Democrat, and Pat Toomey, a Republican
noted that Pennsylvania-based Comcast Corp has pledged
to speed up Internet speeds for Time Warner Cable customers.
Their letter to Federal Communications Commission Chairman Tom
Wheeler also cited the potential for additional jobs and
charitable contributions in their state by the larger company.
WASHINGTON (Reuters) – President Barack Obama’s nominee to
head the U.S. Patent and Trademark Office pledged on Wednesday
to tackle a backlog of unexamined patents and push forward with
plans to improve patent quality though no confirmation vote is
expected this year.
Michelle Lee, acting director of the USPTO, told lawmakers
the agency would continue increasing the number of examiners
after hiring 1,000 this year, and press on with a process that
allows anyone to ask that a patent be declared invalid.