Word: antitrusters
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Socal immediately said that it would sell many of Gulfs refineries and service stations after it acquired them to keep antitrust considerations from stopping the merger. Still, nervous investors were worried that the deal might fall apart or be stopped by the Government; Gulf shares dropped instead of rising toward the $80 takeover price. The stock closed the week...
...Gulf acquisition by another major oil company would present some antitrust problems, but legal experts do not believe that the Reagan Administration would object. If either Arco or Socal buys Gulf, however, the Government might insist on the sale of some refineries and gas stations to preserve competition...
...District Court judge has ruled that the United States Football League violated federal antitrust law by refusing to let former Arizona punter Bob Boris play last year because his college class had not graduated Yesterday's order could open the door for underclassmen to play professional football in the future...
Boris filed suit against the USFL last August, contending that the league's eligibility rule, as it was applied to him, constituted an unreasonable restraint of trade in violation of federal antitrust laws...
...protection from imports that steelmakers have won greatly weakened their position with the Justice Department. Even former Antitrust Chief Baxter, now a law professor at Stanford, agreed. Said he last week: "The steel companies can't have it both ways. They can't have protectionism on the U.S. market and then expect to be judged on merger questions as if they operated in a free world market...