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Friday, Jul. 31, 1998
Brief Business
FTC imposes $2.5 million fine on Columbia/HCA
From Staff Writer wire services
NASHVILLE, Tenn. - Columbia/HCA Healthcare Corp. has agreed to pay $2.5 million for failing to meet deadlines for divesting three hospitals following the largest-ever merger of hospital companies, the Federal Trade Commission said Thursday.
The FTC approved Columbia's $3 billion buyout of Healthtrust Inc. in 1995 but attached certain conditions, including that Columbia divest itself of two Utah hospitals within nine months and sell its interest in a Florida hospital within six months.
Columbia failed to meet the deadlines in both cases and the FTC voted 4-0 to impose the fine, which was negotiated with Columbia officials. The fine is the second-largest in FTC history for failure to divest on time.
FTC approves proposal for DaimlerChrysler AG
AUBURN HILLS, Mich. - The Federal Trade Commission has approved the proposed merger of Chrysler Corp. and Germany's Daimler-Benz AG, Chrysler and the commission announced Thursday.
The approval came one week after the European Union endorsed the merger. The two automakers announced plans May 7 to form a new company called DaimlerChrysler AG. The stock transaction is valued at about $36 billion.Post your comments about local news eventsFront Page || Main Index || News || Business || Texas || South Texas Outdoors || Birdwatching || Sports || Entertainment || Selena || Education || South Texas Attractions || World Wide Web