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The declaration had one condition: approval in the referendum on Dec. 1st.
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The company, based in Chicago, said it expected to make a tax-free distribution of the remaining shares of the machinery business by the end of 2001, subject to market conditions, approval from the board and a favorable tax ruling.
Instead, Washington is expected to require that parts of Sprint be sold to outside companies as a condition of approval.
Under the European Commission's condition for approval, Unilever must shed brands and businesses worth $440 million in annual sales.
But the completion of the E.U.-mandated ABN AMRO asset sale is a condition of approval of that merger.
Officials say they want better terms for Cairn's Indian partner, the state-owned ONGC, as a condition of approval.
But in their review of the deals this year, European regulators required divestments from both as a condition of approval.
For instance, as a condition of approval of a merger between Humana and Arcadian in 2012, the insurers had to sell 15 plans in certain markets to competitors.
Mr. Berkman said the board is probably within its rights to condition its approval of the work on the requirement it has set.
They are expected to, in effect, claim a portion of the proceeds as a condition of approval and disputes over the issue could drag out the sale.
Sierra was obliged by antitrust regulators to sell the plants as a condition of approval for its acquisition of Nevada Power in July 1999.
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