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...
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