logo
Share SHARE
FONT-SIZE Plus   Neg

FTC Accuses Ferrellgas, AmeriGas Of Collusion

Ferrellgas Partners, L.P. (FGP), a distributor of propane, Thursday said that following a lengthy and thorough investigation, the Federal Trade Commission concluded that the company's decision in 2008 to reduce the fill level in its Blue Rhino propane tanks from 17 pounds to 15 pounds was not the result of collusion.

However, the Federal Trade Commission decided to file an administrative complaint against the company for allegedly agreeing with AmeriGas Partners, L.P. (APU) to require Wal-Mart (WMT) to accept 15 pound tanks.

The company said these claims are without merit and it will vigorously contest them.

FGP closed down 1.1 percent at $23.03 on Thursday. APU closed up 1.7 percent at $42.32.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
HSBC is reportedly laying off about 100 of its senior investment bankers worldwide, as the banking giant strives to curb operating costs. According to reports, the London-headquartered bank will eliminate managing director and director level employees at the Global Banking and Markets division, as... Samsung Electronics Co., Ltd. (SMSN.L, SSNNF.OB, SSNLF.OB) will reportedly blame faulty batteries for last year's Galaxy Note 7 fiasco. According to a Wall Street Journal report, Samsung's investigation of Galaxy Note 7 smartphones found that some batteries were irregularly sized while others had... Federal investigators have closed their probe of a fatal crash that involved a Tesla Motors Inc. car eight months ago. The regulators said they have found no safety defects in the vehicle's automated driving system and that Tesla's Autopilot-enabled vehicles did not need to be recalled.
comments powered by Disqus
Follow RTT