logo
Share SHARE
FONT-SIZE Plus   Neg

FTC Accuses Ferrellgas, AmeriGas Of Collusion

Ferrellgas Partners, L.P. (FGP: Quote), 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: Quote) 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
McDonald's has announced its Chief Executive Office Don Thompson will be "retiring" at the age of 51, after two tumultuous years on the job. It will instead be up to Steve Easterbrook, 48, McDonald's chief brand officer, to reverse a downturn in fortunes for the iconic hamburger chain. His challenges... Courier Corp. (CRRC) announced Wednesday that its Board has reasonably determined that the non-binding, unsolicited proposal from R.R. Donnelley & Sons Company (RRD) to acquire the Company for $23.00 per share in cash or RR Donnelley common stock is reasonably likely to result in a "Superior Proposal"... Diversified electronics maker TE Connectivity Ltd. agreed Wednesday to sell its broadband network solutions or BNS business unit to telecommunications company CommScope Holding Co., Inc. in an all-cash deal valued at about $3 billion. The sale will enable TE to focus on providing leading connectivity and sensor solutions, particularly harsh environment connectivity.
comments powered by Disqus
RELATED NEWS
Trade FGP now with 
Follow RTT