Divestment

Real deadlines and real consequences

Retrieved on: 
Thursday, August 6, 2020
Corporate finance, Divestment, Investment, Outsourcing

Real deadlines and real consequences Maribeth Petrizzi, Bureau of CompetitionAug 6, 2020A close read of the Commissons action in this case yields some timely advice for any company that is subject to a divestiture order.

Key Points: 

Real deadlines and real consequences


    Maribeth Petrizzi, Bureau of CompetitionAug 6, 2020
    • A close read of the Commissons action in this case yields some timely advice for any company that is subject to a divestiture order.
    • Any deadline in a Commission order is a real deadline, and failure to meet the deadline can have real consequences.
    • That means that if the order requires a divestiture by June 15, you must have completed the divesture, including closing, by June 15.
    • Under applicable case law, failure to divest on time is a per se violation of an FTC order.
    • The Commission has the discretion to seek civil penalties for any failure to divest by a deadline contained in an order.
    • Additionally, each violation of the order is a separate offense, and maximum potential penalties are calculated for each day of each violation.
    • Compliance reports are an important opportunity to alert the Commission to any problems and concerns about meeting the divestiture deadline.
    • Inadequate compliance reports may constitute separate violations of the order, which could lead to additional civil penalties, as it did in ACT.

Kemin Names New Leadership for its Pet Food and Rendering Technologies Business Unit

Retrieved on: 
Thursday, August 6, 2020
Articles, Corporate finance, Food science, Nutraceutical, Nutrition, Pharmacy, Divestment, Food, Economy, Kemin Industries

Muoz began his career at Kemin in 2013 as a marketing intern, and within a year began working full-time as marketing coordinator for the now-divested Kemin Personal Care business unit.

Key Points: 
  • Muoz began his career at Kemin in 2013 as a marketing intern, and within a year began working full-time as marketing coordinator for the now-divested Kemin Personal Care business unit.
  • He played a key role in divesting the business unit and providing post-divestment support to customers.
  • "They have extensive experience at Kemin and in their disciplines, and they've already made significant contributions to our global pet food business.
  • The company supplies over 500 specialty ingredients for human and animal health and nutrition, pet food, aquaculture, nutraceutical, food technologies, crop technologies and textile industries.

The Becker Milk Company Limited: 2020 Annual Financial Results

Retrieved on: 
Thursday, July 16, 2020
Economy, Economy of Canada, System for Electronic Document Analysis and Retrieval, Divestment

Since 2014 the Board of Directors has been evaluating strategic directions for the Company and has engaged in discussions with potential acquirors.

Key Points: 
  • Since 2014 the Board of Directors has been evaluating strategic directions for the Company and has engaged in discussions with potential acquirors.
  • During this period a programme of divesting less desirable sites has resulted in the sale of 21 investment properties.
  • The Company continues to review its strategic alternatives and will update the market as appropriate, and as required.
  • The Companys annual financial statements for the year ended April 30, 2020, along with the Managements Discussion and Analysis will be filed with SEDAR at www.sedar.com .

FTC Requires Global Suppliers of Animal Health Products Elanco Animal Health, Inc. and Bayer Animal Health GmbH to Divest Assets in Three Product Markets, as a Condition of Merger

Retrieved on: 
Wednesday, July 15, 2020
Economy, Articles, Companies, Aspirin, Bayer, IG Farben, Leverkusen, Eli Lilly and Company, Divestment

The Federal Trade Commission will require global suppliers of animal products, Elanco Animal Health, Inc. and Bayer Animal Health GmbH, to divest three animal health products to settle charges that Elancos proposed $7.6 billion acquisition of Bayerwould likely be anticompetitive in those markets.

Key Points: 
  • The Federal Trade Commission will require global suppliers of animal products, Elanco Animal Health, Inc. and Bayer Animal Health GmbH, to divest three animal health products to settle charges that Elancos proposed $7.6 billion acquisition of Bayerwould likely be anticompetitive in those markets.
  • The Commission will appoint an interim monitor to oversee the divestitures.
  • When the Commission issues a consent order on a final basis, it carries the force of law with respect to future actions.
  • Each violation of such an order may result in a civil penalty of up to $43,280.

FTC Requires Global Suppliers of Animal Health Products Elanco Animal Health, Inc. and Bayer Animal Health GmbH to Divest Assets in Three Product Markets, as a Condition of Merger

Retrieved on: 
Wednesday, July 15, 2020
Economy, Articles, Companies, Aspirin, Bayer, IG Farben, Leverkusen, Eli Lilly and Company, Divestment

The Federal Trade Commission will require global suppliers of animal products, Elanco Animal Health, Inc. and Bayer Animal Health GmbH, to divest three animal health products to settle charges that Elancos proposed $7.6 billion acquisition of Bayerwould likely be anticompetitive in those markets.

Key Points: 
  • The Federal Trade Commission will require global suppliers of animal products, Elanco Animal Health, Inc. and Bayer Animal Health GmbH, to divest three animal health products to settle charges that Elancos proposed $7.6 billion acquisition of Bayerwould likely be anticompetitive in those markets.
  • The Commission will appoint an interim monitor to oversee the divestitures.
  • When the Commission issues a consent order on a final basis, it carries the force of law with respect to future actions.
  • Each violation of such an order may result in a civil penalty of up to $43,280.

Philips announces exchange ratio for 2019 dividend

Retrieved on: 
Monday, July 6, 2020
Economy, Companies, Eindhoven, Articles, Philips, Videotelephony, Forward-looking statement, Divestment, Consumer Electronics Show

Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.

Key Points: 
  • Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.
  • Philips generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries.
  • This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items.
  • Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips organic business and the completion of acquisitions and divestments.

FTC Requires Divestitures as Condition of Tri Star Energy, LLC’s Acquisition of Certain Assets of Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth

Retrieved on: 
Wednesday, June 24, 2020
Companies, Economy, Bell System, Hollingsworth, AT&T, Divestment, General Electric

Tri Star Energy, LLC and Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth have agreed to divest,retail fuel assets to settle charges that Tri Stars proposed acquisition of certain assets from Hollingsworth would violate federal antitrust law.

Key Points: 
  • Tri Star Energy, LLC and Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth have agreed to divest,retail fuel assets to settle charges that Tri Stars proposed acquisition of certain assets from Hollingsworth would violate federal antitrust law.
  • Tri Star, a Nashville, Tennessee-based energy company, operates fuel outlets and convenience stores in four states including Tennessee.
  • The acquisition would increase the likelihood that Tri Star could unilaterally raise prices in each of the two markets.
  • Tri Star and Hollingsworth would be required to maintain the competitiveness of the divestiture assets during the divestiture process.

FTC Requires Divestitures as Condition of Tri Star Energy, LLC’s Acquisition of Certain Assets of Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth

Retrieved on: 
Wednesday, June 24, 2020
Companies, Economy, Bell System, Hollingsworth, AT&T, Divestment, General Electric

Tri Star Energy, LLC and Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth have agreed to divest,retail fuel assets to settle charges that Tri Stars proposed acquisition of certain assets from Hollingsworth would violate federal antitrust law.

Key Points: 
  • Tri Star Energy, LLC and Hollingsworth Oil Company, Inc., C & H Properties, and Ronald L. Hollingsworth have agreed to divest,retail fuel assets to settle charges that Tri Stars proposed acquisition of certain assets from Hollingsworth would violate federal antitrust law.
  • Tri Star, a Nashville, Tennessee-based energy company, operates fuel outlets and convenience stores in four states including Tennessee.
  • The acquisition would increase the likelihood that Tri Star could unilaterally raise prices in each of the two markets.
  • Tri Star and Hollingsworth would be required to maintain the competitiveness of the divestiture assets during the divestiture process.

Harvest Announces Amended Terms for Planned Divestment of Select California Retail Assets to High Times

Retrieved on: 
Friday, June 12, 2020
Cannabis, Cannabis smoking, Entheogens, Euphoriants, Divestment, Articles, Medicine, Medical specialties

PHOENIX, June 12, 2020 /PRNewswire/ -- Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company and multi-state operator (MSO) in the U.S., today announced amended terms to its previously announced plans to divest select retail assets in California to Hightimes Holding Corp. ("Hightimes").

Key Points: 
  • PHOENIX, June 12, 2020 /PRNewswire/ -- Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF) ("Harvest"), a vertically integrated cannabis company and multi-state operator (MSO) in the U.S., today announced amended terms to its previously announced plans to divest select retail assets in California to Hightimes Holding Corp. ("Hightimes").
  • Harvest will retain four operating dispensaries located in Grover Beach, Napa, Palm Springs, and Venice and select licenses for potential retail locations in California following completion of this planned divestment.
  • Assets may be excluded from the divestment plan if required approvals are not obtained resulting in an adjustment to the total consideration.
  • About Harvest Health & Recreation Inc.
    Headquartered inTempe, Arizona, Harvest Health & Recreation Inc.is a vertically integrated cannabis company and multi-state operator (MSO).

Philips to convene Extraordinary General Meeting of Shareholders

Retrieved on: 
Thursday, May 7, 2020
Economy, Companies, Eindhoven, Philips, Videotelephony, Articles, Divestment, Forward-looking statement

Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.

Key Points: 
  • Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions.
  • Philips' health technology portfolio generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries.
  • News about Philips can be found at www.philips.com/newscenter
    This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items.
  • Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips organic business and the completion of acquisitions and divestments.