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: firstname.lastname@example.org