When Mergers Weren't Welcome late 1960s offered a much less friendly environment for industry mergers than exists today. An SN cover story on Jan. 23, 1967, reported on a series of new guidelines developed by the Federal Trade Commission that severely limited mergers and expansions among large retailers. According to the article, the revised guidelines meant "that behemoth retailers must content themselves with internal expansion because the merger route will be a rocky one." Under the ...

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