FTC Seeks To Block Pennsylvania Gas Co. Acquisition

Law360, New York (April 16, 2007, 12:00 AM EDT) -- The U.S. Federal Trade Commission on Friday requested a temporary restraining order and preliminary injunction over the proposed acquisition of a Pennsylvania natural gas company, the same day the state’s Public Utility Commission approved the sale.

The FTC filed its request in the U.S. District Court for the Western District of Pennsylvania, stating that Equitable Resources Inc.’s acquisition of Dominion Resources Inc. subsidiary the Peoples Natural Gas Co. might lessen competition and discounts for local natural gas customers.

The proposed $970 million deal also includes the...
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