- 2 -
The stipulation of facts and attached exhibits are incorporated
herein by this reference. At the time the petition was filed in
this case, petitioner's principal place of business and principal
office were located in Walnut Creek, California.
Background
During the relevant years, petitioner, Liquid Air Corp., was
the common parent of an affiliated group of corporations.
Petitioner was, at all relevant times, engaged principally in the
business of producing, selling, and distributing industrial gases
and welding products in the United States and various foreign
countries.
On June 5, 1978, petitioner entered into a written executory
contract (Contract) with the Chemetron Corp. (Chemetron) to
purchase certain assets of the Industrial Gases Division (IGD) of
Chemetron. At the time of the Contract, Chemetron was a wholly
owned subsidiary of Allegheny Ludlum Industries, Inc.
(Allegheny). The Contract was the result of an arm's-length
negotiation among representatives of petitioner, Chemetron, and
Allegheny. Michael V. Breber, petitioner's executive vice
president and chief operating officer, was in charge of
negotiating the purchase of the assets of the IGD on petitioner's
behalf. Before the transaction could close, however, approval of
the transaction by the Federal Trade Commission (FTC) was
necessary.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011