Polish Court Denies PGE's $2.3B Rival Energy Co. Buy

Law360, New York (May 14, 2012, 1:40 PM EDT) -- A Polish court on Monday rejected state-owned energy company PGE Polska Grupa Energetyczna SA's bid to buy rival Energa SA for 7.53 billion zloty ($2.3 billion), affirming a determination by the country's antitrust watchdog that the deal would harm competition.

The decision by the Warsaw antitrust court upholds a ruling by the Office of Competition and Consumer Protection, Poland's antitrust authority, which blocked the proposed deal in January 2011 after finding the transaction would reduce competition in the energy market and limit consumer choice.

The competition...
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