Source: https://www.ftc.gov/enforcement/premerger-notification-program/statute-rules-and-formal-interpretations/formal-14
Timestamp: 2016-05-26 14:12:33
Document Index: 365750493

Matched Legal Cases: ['art 802', '§ 801', '§ 802', '§ 1551', '§ 802', '§ 802']

Formal Interpretation No. 14 | Federal Trade Commission
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16 CFR Part 802 Premerger Notification: Reporting and Waiting Period Requirements
EFFECTIVE DATE: November 14, 1988
FOR FURTHER INFORMATION CONTACT: John M. Sipple, Jr., Chief, Premerger Notification Office, Bureau of Competition, Room 301, Federal Trade Commission, Washington, DC 20580. Telephone: (202) 326-3100.
Mergers and similar transactions between airlines have for decades required federal regulatory approval prior to consummation. Until 1985, that authority was granted to the Civil Aeronautics Board, and since then, to the Department of Transportation (DOT). The Hart-Scott-Rodino premerger notification rules, 16 C.F.R. § 801.1 et seq., have taken account of the prior approval requirement and have attempted to eliminate duplicative notification and review by providing in § 802.6(b)(1) that:
[A]ny transaction which requires approval by [DOT] prior to consummation, pursuant to section 408 of the Federal Aviation Act, 49 U.S.C. 1378, shall be exempt from the requirements of the act if copies of all information and documentary material filed with [DOT] are contemporaneously filed with the Federal Trade Commission and the Assistant Attorney General.
As of January 1, 1989, under the provisions of the CAB Sunset Act, 49 U.S.C. § 1551(a)(7), DOT will no longer have authority over airline mergers. The Federal Trade Commission is issuing this formal interpretation in anticipation of the following question that may arise concerning the transition: Is a transaction for which DOT approval has been sought or obtained (and for which papers filed with DOT have been contemporaneously filed with the antitrust agencies) but which has not been consummated prior to Jsnuary 1, 1989, exempt from premerger notification requirements pursuant to § 802.6(b)(1), or is a Hart-Scott-Rodino premerger notification required?
Section 802.6(b)(2) provides that acquisition of:
(2) The following . . . assets will not be exempt under § 802.6(b)(1): (i) if the transaction is an acquisition of assets, the assets which are engaged in a business or businesses other than aeronautics or air transportation . . . ;