The U.S. sued over a stock purchase.
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The suit, filed in New York at the request of the FTC, charged Weeks Petroleum of Bermuda and Bell Resources, an Australian company that is 93.6% owned by Weeks, with violating provisions of the Hart-Scott-Rodino Act, which requires advance notification and a waiting period for certain types of mergers or stock acquisitions. The alleged violations concerned Bell’s acquisition of stock in copper producer Asarco Inc. beginning last September.
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