FTC OKs AmeriGas' acquisition of Heritage Propane, sets conditions

01/11/2012 | Bloomberg · American City Business Journals

The Federal Trade Commission on Wednesday approved AmeriGas Partners' deal with Energy Transfer Partners to purchase Heritage Propane for $2.9 billion, provided that the deal does not include Heritage Propane's cylinder-exchange business. The agency said in a statement that the original proposal "would have substantially lessened competition in the nationwide market for distributing and selling propane exchange cylinder services, as well as in several smaller regional markets." The FTC also required ETP to ensure that Heritage Propane's cylinder-exchange business will remain viable to consumers for two years.

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Bloomberg · American City Business Journals