Retail Industry
Industry: Email Alert RSS FeedFTC clears way merger for of Price, Costco. (Federal Trade Commission gives antitrust clearance to Price Co. and Costco Wholesale Corp. merger) (Brief Article)
Daily News Record, August, 1993 by Ramey, Joanna
WASHINGTON (FNS) -- The Federal Trade Commission on Monday gave the Price Co. and Costco Wholesale Corp. the antitrust clearance to merge.
Under federal law, the FTC was required to weigh whether the merger, which would make the new entity the wholesale club leader in northern California, would hinder competition.
The companies are still awaiting the state of California's antitrust approval, which is the final hurdle to overcome before they can merge.
Together the clubs would create a company of 195 stores with about $16 billion in sales.
In addition to giving antitrust clearance to creation of Price/Costco, Inc., the FTC also had to give approval for large shareholders in each company to become stockholders in the new entity. ...
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