FTC Approves Water-Jet Merger With Conditions
Law360 (July 11, 2008, 12:00 AM EDT) -- The U.S. Federal Trade Commission has approved water-jet-cutter company Flow International Corp.'s $109 million bid for Omax Corp. on the condition that it licenses two of the smaller company's patents royalty-free to any rival.
The union will harm competition in the U.S. market for the manufacture and sale of water-jet-cutting systems unless Flow agrees to certain requirements, the FTC said in a complaint and consent order lodged on Thursday.
“Flow and Omax are each other's closest competitor in the highly concentrated U.S. market for water-jet-cutting systems,” said Jeffrey Schmidt, director of the FTC's Bureau of Competition.
“The consent agreement announced today...
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