Commission issuance of order in matter of Rambus, Inc. – The Commission has issued an order in Rambus, Inc., Docket No. 9302, authorizing Rambus to receive royalties in excess of maximum allowable rates, as provided in the Commission’s final order in this matter. The Commission’s order was issued upon joint motion of Rambus and complaint counsel, and followed a decision by the U.S. Court of Appeals for District of Columbia Circuit that set aside the Commission’s final order. The Commission’s earlier partial stay of its final order allowed Rambus to acquire, and to seek to acquire, rights to (but not possession of) such “excess consideration.” Upon issuance of the mandate by the court of appeals, the Commission’s partial stay required issuance of this order, thus ending the prohibition against Rambus’s ability to seek possession of these monies. The vote approving issuance of the order was 4-0. (FTC Docket No. 9302, staff contact is Daniel P. Ducore, Bureau of Competition, 202-326-2526.)
Commission approval of modified final consent order – Following a public comment period, the Commission has approved the issuance of a modified final consent order in the matter concerning Pernod Ricard S.A. and V&S Vin & Sprit AB (publ) (V&S). This matter concerns a transaction through which Pernod Ricard and The Kingdom of Sweden entered into an agreement whereby Pernod Ricard would acquire all of the voting securities of V&S. To address the competitive concerns associated with the transaction, as part of its decision and order, the FTC issued an Order to Hold Separate and Maintain Assets that authorizes the Commission to appoint an interim monitor to oversee Pernod Ricard’s compliance with the terms of the order – specifically that it hold separate the Stolichnaya brand from the rest of its distilled spirits businesses. Accordingly, the Commission has now appointed Edward Gold of PricewaterhouseCoopers LLP as the interim monitor in this matter and has approved the proposed Interim Monitor Agreement between Pernod Ricard and Gold.
In addition, the Commission has modified the original order to address the possible termination of the Future Brands joint venture. The termination of the joint venture raised issues related to the service term of the interim monitor and certain joint venture firewalls. To address these issues, the FTC has modified the order by making several textual changes in the following paragraphs: I.Y., II.G., I.L.L., I.H.H., the proviso provisions of Paragraphs III.A.8. and III.B., and paragraphs III.B., III.C.3., and IV.D.3. Each of these changes can be found in the modified final order, which is available now on the Commission’s Web site and as a link to this press release. The order will be modified whether or not the joint venture is unwound.
The Commission vote approving issuance of the modified final order, the appointment of Edward Gold as interim monitor, and the approval of a Proposed Interim Monitor Agreement was 4-0. (FTC File No. 081-0119; the staff contact is Joseph S. Brownman, Bureau of Competition, 202-326-2605; see press release dated July 17, 2008, at http://www.ftc.gov/opa/2008/07/pernod.shtm.)
Copies of the documents mentioned in this release are available from the FTC’s Web site at http://www.ftc.gov and from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. Call toll-free: 1-877-FTC-HELP.
(FYI 48.2008.wpd)