FTC Opposes Oil Refiners' Merger

Law360, New York (April 11, 2007, 12:00 AM EDT) -- The Federal Trade Commission has moved to suspend a $1.4 billion merger between two oil refineries amid concerns that it would reduce New Mexico’s light petroleum supply and impede a future drop in prices.

Allowing Western Refining Inc. to acquire rival Giant Industries Inc., thereby combining two of New Mexico’s top gasoline and fuel providers, would significantly harm competition and prevent Giant from increasing its output, as it is likely to do if they remain separate, the FTC said on Tuesday.

The Commission voted unanimously to...
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