Valero Energy Corporation and Ultramar Diamond Shamrock Corporation

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In the Matter of Valero Energy Corporation and Ultramar Diamond Shamrock Corporation
FTC Matter/File Number:

0110141

Docket Number:

C-4031

Enforcement Type:

Part 2 Consents

Case Summary

The consent order permitted Valero to complete its $6 billion merger with Ultramar Diamond Shamrock Corporation, but required the divestiture of Ultramar's Golden Eagle Refinery, bulk gasoline contracts, and 70 Ultramar retail service stations in Northern California to a Commission-approved acquirer. According to the complaint, the merger as originally proposed, would have lessened competition in two refining markets in California resulting in consumers paying more than $150million annually if the price of CARB gasoline increased just one cent per gallon. CARB gasoline meets the specifications of the California Air Resources Board.