Premerger clearance- Failng company portion of fixed assets to be sold to keep company in business
74 F.T.C. 1673 · Oct. 8, 1968 · Digest No. 297
source volume section (74 F.T.C. 1673)
Text is machine-OCR of the printed volume and may contain errors. Advisory opinions are the Commission's views on proposed conduct, not binding orders.
No. 297. Premerger clearance- Failng company portion of fixed assets to be sold to keep company in business. The Commission advised an appJicant that it has no present intention to take any action if the proposed sale of certain fixed assets to a direct competitor should be made, in view of the information submitted that: (i) The (applicant) company is in critical financial condition and failing;
(ii) Efforts to find other purchasers have been unsuccessful except that one other purchaser was found who wished to buy a smaller amount of the assets than ordinarily stated but who is not now in any position to buy any of the properties; (Iii) The proposed sale is expected to generate suffcient funds to meet outstanding debts and provide necessary working capital to continue the company as a going concern and an active competitor. (File No. 693 7030, released Oct. 8, 1968.