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The staff is being "redeployed" as a result of the divestiture plan, he said.
The Justice Department announced the other day that it had hired R. L. Banks & Associates, a Washington consulting firm, to examine whether Norfolk's divestiture plan would protect competition.
The price, about $22 to $24 a share, is roughly half the early estimates of $12 billion by most Wall Street analysts when Merck first announced the divestiture plan in January.
The divestiture plan was announced at the same time the company disclosed that it agreed to be acquired by private equity investors, led by Bain Capital Partners and Thomas H. Lee Partners.
The sad paradox here is that if he gets his way on the remedy, he will likely be forced to tie together a million loose ends created by this sweeping, but casually constructed, divestiture plan.
The spinoff to existing shareholders is part of a divestiture plan to focus Campbell on soups, sauces, biscuits and confectionery products, which senior executives say offer the highest margins and largest growth potential.
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The sale of a majority stake in Bezeq would represent the first major privatization initiative by the Barak administration, which inherited several stalled divestiture plans from the previous government.
In announcing the divestiture plans, Mr. McMillan said that the sales would bring in at least $2.5 billion, giving the company enough cash to buy other companies that fit better with the brands it is keeping.
In this atmosphere, Trump has named an unprecedented number of supporting cast members with conflicts of their own, from the Secretary of State, Rex Tillerson (whom Gorelick advised on his own divestiture plans), to the Treasury Secretary, Steven Mnuchin; the Secretary of Health and Human Services, Tom Price, and the Secretary of Education, Betsy DeVos.
Perhaps Sinclair's plans to puppeteer these stations were transparent, or perhaps there are too many eyes on the commission right now to let something like this slide, but whatever the case, the merger can't go forward without FCC approval — and now FCC approval won't go forward without this hearing and revised divestiture plans.
The deal is the latest sale by BP as part of an asset-divestiture plan, announced after the Deepwater Horizon disaster in the Gulf of Mexico in 2010.
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