[Federal Register Volume 59, Number 48 (Friday, March 11, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-5714]


[[Page Unknown]]

[Federal Register: March 11, 1994]


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FEDERAL TRADE COMMISSION
[Dkt. C-3478 ]

 

The Valspar Corporation, et al.; Prohibited Trade Practices, and 
Affirmative Corrective Actions

AGENCY: Federal Trade Commission.

ACTION: Consent order.

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SUMMARY: In settlement of alleged violations of federal law prohibiting 
unfair acts and practices and unfair methods of competition, this 
consent order requires, among other things, a Minnesota-based 
corporation to divest, within 12 months of the date of the order, 
certain assets it acquired from Cargill, to Newco, an independent 
corporation that Valspar forms as a successor corporation to McWhorter, 
and to obtain Commission approval of the divestiture arrangement prior 
to consummation. In addition, the consent order requires McWhorter and 
Newco, for 10 years, to obtain the Commission's approval before 
acquiring any stock or other interest in any entity that manufactures 
coating resins in the United States.

DATES: Complaint and Order issued January 25, 1994.\1\

    \1\Copies of the Complaint, the Decision and Order, and 
Commissioner Owen's statement are available from the Commission's 
Public Reference Branch, H-130, 6th Street & Pennsylvania Avenue, 
NW., Washington, DC 20580.
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FOR FURTHER INFORMATION CONTACT:
Robert Tovsky, FTC/S-3302, Washington, DC 20580. (202) 326-2634.

SUPPLEMENTARY INFORMATION: On Tuesday, Nov. 9, 1993, there was 
published in the Federal Register, 58 FR 59479, a proposed consent 
agreement with analysis In the Matter of The Valspar Corporation, et 
al., for the purpose of soliciting public comment. Interested parties 
were given sixty (60) days in which to submit comments, suggestions or 
objections regarding the proposed form of the order.

    No comments having been received, the Commission has ordered the 
issuance of the complaint in the form contemplated by the agreement, 
made its jurisdictional findings and entered an order to divest, as set 
forth in the proposed consent agreement, in disposition of this 
proceeding.

(Sec. 6, Stat. 721; 15 U.S.C. 46. Interpret or apply sec. 5, 38 
Stat, 719, as amended; sec. 7, 38 Stat. 731, as amended; 15 U.S.C. 
45, 18)
Donald S. Clark,
Secretary.
[FR Doc. 94-5714 Filed 3-10-94; 8:45 am]
BILLING CODE 6750-01-M