Article: FTC, JUSTICE DEPARTMENT ABANDON MERGER REVIEW AGREEMENT.

WASHINGTON, May 21, 2002

The Justice Department and Federal Trade Commission have abandoned a controversial plan that would divvy up responsibility for merger reviews between the two federal agencies.

Under the now-rejected plan, the Justice Department would have overseen all corporate combinations in the media and entertainment industries, while the FTC would have taken responsibility for deals in manufacturing and other industries. The agencies currently determine which will have jurisdiction over a particular merger on an individual basis.

The agencies had hoped that the agreement would speed the merger-review process by eliminating the ...

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