Word: antitrusters
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Tiny Berkey kayos Kodak in first antitrust round...
Arena does not like the idea of his former employer muscling in. Says he: "I told Carter Hawley their timing was inappropriate, but they kept pushing." The day the C.H.H. bid was announced, Field filed a suit charging that the merger would violate antitrust law, a standard move in takeover battles. Carter Hawley seems determined to persist, to the point of upping its bid if necessary. Analysts see no way Field can ward off an eventual merger -if not with C.H.H., then with any one of several other big department store companies...
...easing of antitrust regulations that would permit small-and medium-size steel companies to form joint ventures to develop advanced technology-for example, designing new rolling mills or coke ovens...
...efforts to get them to participate may be sunk by a conflict in Washington. In 1975 the Russians bowed to U.S. pressure to enter key North Atlantic price-fixing conferences, but the Justice Department "loused up the deal," in the words of one New York shipping executive, by threatening antitrust action against the American members. Since 1916, U.S. members of shipping conferences have been exempt from antitrust laws, but Justice is making noises about ending that freedom in line with President Carter's deregulation policy. A U.S. pullout from the conferences would scarcely tempt the Soviets to join...
...formal headquarters in Paris, complete with a paid secretariat, policy and operating committees and detailed rules for dividing up markets and fixing prices. Those rules forbade members to share markets or rig prices in France, South Africa, Australia, Canada and the U.S., in order to stay clear of local antitrust rules. But whenever a member company learned of a potential order from an outside country-Japan, say, or Spain-it had to inform the secretariat. The cartel would then select a member to bid at a price it had set; to preserve appearances, another member would be chosen...