FTC, WestPoint in pact pending Stevens purchase. (J.P. Stevens and Co.)

Daily News Record, April, 1988 by Taylor, Hal

FTC, WestPoint In Pact Pending Stevens Purchase By HAL TAYLOR WASHINGTON (FNS) -- The Federal Trade Commission said Friday that WestPoint Pepperell has agreed that if it acquires J.P. Stevens Co., it will hold certain towel and sheet making facilities separate so that the Commission may continue to investigate the acquisition.

The Commission has terminated the waiting period required under the Hart-Scott-Rodino Act and said that a request for additional information issued earlier Friday will no longer be effective.

Under the hold-separate agreement, if WestPoint Pepperell does acquire Stevens, WestPoint Pepperell has agreed to be bound by an assigned consent agreement with the FTC which requires WestPoint to divest certain assets.

The FTC...

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