The FTC revised its thresholds relating to the prohibition against interlocking directorates under Section 8 of the Clayton Act.
Under the revised thresholds, a director or officer "interlock" between competitor corporations will be unlawful if each competitor has combined capital, surplus and undivided profits of more than $38,204,000, unless the competitive sales of either corporation are less than $3,820,400. (Other de minimis exception tests not subject to annual revision also may apply.)
The updated thresholds take effect immediately.
- FTC Notice: Revised Jurisdictional Thresholds for Section 8 of the Clayton Act (85 FR3381)
- Federal Register: Revised Jurisdictional Thresholds for Section 8 of the Clayton Act
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