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FTC ok's Intel buy of C&T [CNN]
> January 13, 1998: 10:56 a.m. ET
> NEW YORK (CNNfn) - The U.S. Federal Trade Commission said Tuesday it
> would no longer try to hold up Intel Corp.'s $420 million acquisition
> of Chips and Technologies Inc.
> [INLINE] The FTC did say, however, that it would continue to
> investigate the merger as part of its more extensive look into Intel's
> operations. Earlier, the FTC had sought a preliminary injunction to
> halt the merger.
> [INLINE] The FTC was apparently concerned that Intel would gain an
> even larger market share of the chip market with the acquisition of
> Chips and Technologies, a leading laptop computer semiconductor firm.
> [INLINE] The FTC has been eyeing Intel carefully because it believes
> that Intel's strong chip business, estimated to control more than 80
> percent of the world's market, could raise antitrust concerns.
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