FTC, DOJ Clear Key Energy's $300M Fracking Cos. Buy

Law360, New York (August 1, 2011, 6:56 PM EDT) -- Texas-based oilfield service provider Key Energy Services Inc. on Friday won federal approval for its plan to buy fracking equipment rental companies Edge Oilfield Services LLC and Summit Oilfield Services LLC for $300 million.

The Federal Trade Commission said in a notice that it and the U.S. Department of Justice had granted Key Energy early termination of its investigation into the merger, which the companies announced in mid-July.

The early termination means both agencies have declined to investigate, letting the cash-and-stock deal go forward. Key Energy...
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