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
Best Buy Co., Inc. (BBY) reported first-quarter non-GAAP earnings per share from continuing operations of $0.44, an increase of 19% from $0.37, a year ago. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically... Automotive parts retailer AutoZone, Inc. on Tuesday reported a 6 percent increase in profit for the third quarter from last year, reflecting growth in sales and higher inventory on new store openings. However, both revenue and earnings per share for the quarter missed analysts' expectations. Toll Brothers, Inc. (TOL), the nation's leading builder of luxury homes, reported second-quarter net income of $89.1 million, or $0.51 per share, compared to $67.9 million, or $0.37 per share, prior year. Pre-tax income increased to $140.4 million from $86.5 million. On average, 18 analysts polled by...
comments powered by Disqus
Follow RTT