Ron Perelman Outfit Settles Antitrust Charges

     WASHINGTON (CN) – MacAndrews & Forbes Holdings Inc., a holding company wholly owned by billionaire tycoon Ronald Perelman, will pay $720,000 to settle new antitrust charges.
     The charges stem from transactions in 2012 when MacAndrews & Forbes acquired voting securities of Scientific Games, a provider of lottery and gaming services. Both companies are based in New York.
     In a complaint filed Thursday, which the New York-based company settled the same day, the Justice Department accused MacAndrews & Forbes of violating premerger reporting and waiting requirements in the maneuvers.
     Such actions are proscribed by the Hart-Scott-Rodino Act of 1976, according to a complaint.
     The 2012 acquisitions gave MacAndrews & Forbes at least $68.2 million in Scientific Games voting securities, which is the reporting threshold under the statute.
     “Although certain stock acquisitions relating to a previous HSR Act notification are exempt from additional notice and waiting requirements, MacAndrews & Forbes’ June 2012 acquisitions of Scientific Games voting securities fell outside of the five-year time period for that exemption,” the Justice Department said in a statement.
     “The Hart-Scott-Rodino Act of 1976, an amendment to the Clayton Act, imposes notification and waiting period requirements on individuals and companies over a certain size before they consummate acquisitions resulting in holding stock or assets above a certain value, which was $68.2 million in 2012 and is currently $70.9 million.”
      In addition to a final judgment, and motion to enter that order, the parties also filed a stipulation.

%d bloggers like this: