Problem: A fixed base operator (FBO) is a provider of aviation services for private jet/plan owners (fuel, passenger loading, etc.) at major airports in US. Companies A, B, and C represent (in order 55%, 30% and 10%) of the nationwide market for FBO services at 100 major US airports. A wishes to buy all of the stock in C. The deal is agreed to subject to regulatory approval. You are the FTC lawyer looking at the transaction for its post-sale anticompetitive aspects, knowing it is a confusing issue since A, B and C each operate at only certain airports and in some case A, B or C is the only FBO at an airport. How do you analyze this for awarding HSR pre-approval? a. A can proceed if it divests itself of all airport locations where B and C are the only FBOs currently at the airport. b. Proposed transaction increases consolidation by A to 65% and per se this violates law. c. Transaction is automatically illegal using leveraging theory for post-purchase competition analysis. d. A is allowed to proceed but it must divest itself of C at those airports where A and C are currently the only FBOs currently at