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Industry: Email Alert RSS FeedFinancier gets FTC OK on Macy's investment. (Sir Run Run Shaw)
Daily News Record, February, 1991
FINANCIER GETS FTC OK ON MACY'S INVESTMENT
WASHINGTON (FNS) - The Federal Trade Commission has cleared the way for Hong Kong financier Sir Run Run Shaw to invest $25 million in R.H. Macy & Co., Inc.
The FTC said in a Feb. 6 letter that it had no antitrust objections to Sir Run Run's plan to invest in the debt-laden department store chain.
The commission wrote both R.H. Macy and Sir Run Run Shaw that its inquiry into possible antitrust violations was ended. The act requires that all large corporate mergers and purchases of assets must be reported to the government for antitrust clearance.
The $25 million will be invested as new equity along with $119 million already put in by Macy's existing shareholders. A Macy's existing...
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