FTC Blocks $970M Natural Gas Co. Acquisition

Law360, New York (March 15, 2007, 12:00 AM EDT) -- The U.S. Federal Trade Commission said Thursday that it is blocking the acquisition of a natural gas company, claiming the sale would create a monopoly for nonresidential natural gas customers in southwestern Pennsylvania and the biggest natural gas distribution company in the state.

The Commission said it had approved a complaint brought by the FTC’s staff challenging Equitable Resources Inc.’s acquisition of Dominion Resources Inc. subsidiary the Peoples Natural Gas Co., a natural gas supplier in southwestern Pennsylvania.

The $970 million deal also includes the sale...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.