9/10/2023 0 Comments 1926 black and decker drill priceWith activities and sales world-wide, Black & Decker is a corporation organized under the laws of Maryland, which also is its principal place of business. On October 1, 1973, pursuant to an agreement of July 11, 1973, Black & Decker acquired for 550,000 of its shares the outstanding *735 issued stock of the McCulloch Corporation. The government does not contend that any actual competition, either horizontal or vertical, has been affected by the Black & Decker/McCulloch merger. Specifically, the government asserts a perceived potential entrant theory that the Black & Decker/McCulloch merger eliminated the pro-competitive effect Black & Decker exerted on the gasoline powered chain saw market by reason of its dominant *734 position on the edge of the market an actual potential entrant theory that the Black & Decker/McCulloch merger eliminated Black & Decker as the most significant potential entrant either by internal de novo expansion or toehold acquisition into the gasoline powered chain saw market and an entrenchment theory that the combination of a major portable electric tool manufacturer, Black & Decker, with one of the largest gasoline chain saw manufacturers, McCulloch, will entrench and dominate an already oligopolistic gasoline powered chain saw market. The government claims in this section 7 Clayton Act suit that potential competition may be substantially lessened by the acquisition of McCulloch by Black & Decker. Based on this entire record, the court herein makes its findings of fact and conclusions of law, as required by Federal Rule of Civil Procedure 52(a). Subsequent to trial, the parties submitted proposed findings of fact and conclusions of law. Nearly thirty witnesses testified, approximately 1000 exhibits were admitted, and the trial transcript exceeds 5000 pages. Trial before the court in the case commenced Apand consumed eight weeks. Thereafter on Octothe parties agreed to and the court sanctioned a hold separate order whereby Black & Decker would maintain McCulloch as a separate, identifiable business entity pending resolution of this litigation. Divestiture of the acquired company is the principal relief sought.Ī request by the government for a temporary restraining order to prevent consummation of the Black & Decker/McCulloch merger was denied on September 28, 1973. The government commenced this civil antitrust action on Septemby filing a complaint alleging that the purchase of the McCulloch Corporation (McCulloch) by the Black and Decker Manufacturing Company (Black & Decker) violates § 7 of the Clayton Act as amended, 15 U.S.C. Bowen, Miles & Stockbridge, Baltimore, Md., for defendants. Cooney, Howrey & Simon, Washington, D.C., Lowell R. of Justice, Washington, D.C., for plaintiff.ĭavid C. United States District Court, District of Maryland. The BLACK AND DECKER MANUFACTURING COMPANY and McCulloch Corporation.
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