Itt Continental Baking Company

Text (OCR of the scan at left; may contain errors)

IN THE MATTER OF ITT CONTINENTAL BAKING COMPANY Docket 7880. Interlocutory Order, Oct. , 1983 ORDER SETTING ASIDE ORDER REQUIRING FILING OF SPECIAL REPORT By a petition fied on June 13, 1983, respondent ITT Continental Baking Company ("ITT Continental") requests that the Commission reopen this proceeding and set aside or in the alternative modify the November 26 1974 Order Requiring Filing of Special Report, which requires ITT Continental to give sixty days prior notice before making any acquisition in the baking industry. See ITT Continental Baking Co. 84 F. C. 1349 (1974). Pursuant to Section 2.51 of the Commission s Rules of Practice, the petition was placed on the public record for comment. No comments were received.

Upon consideration of ITT Continental' s request and supporting materials, and other relevant information, the Commission finds that the public interest and changed conditions oflaw warrant reopening of the proceeding and setting aside of the order. Since the Order to File Special Report was issued, the Hart-Scott- Rodino Antitrust Improvements Act of 1976, 15 U. C. 18a, was passed. ITT Continental must now notify the Commission and the Assistant Attorney General in charge ofthe Antitrust Division of any acquisitions in the baking industry that are required to be reported by the statute and implementing rules. In view of this overlap between the Hart-Scott-Rodino premerger reporting requirements and the reporting requirements of the Order, the Commission believes that the Order is no longer necessary in order for the Commission to have the opportunity to scrutinize respondent's acquisitions in the baking industry that are subject to the Hart-Scott-Rodino premerger reporting requirements. As to other acquisitions, the Commission believes the costs of continuing to require reporting under the Order outweigh the benefits of the prior notice because such acquisitions, generally those that do not meet the Hart-Scott-Rodino dollar threshold, do not appear suffciently likely to raise competitive concern. Accordingly, It is ordered That this matter be, and it hereby is, reopened and that the Order Requiring Filing of Special Report be set aside as of the effective date of this order.

1299 Complaint