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Red Sky Holdings LP, and Newpark Resources, Inc., In the Matter of

The Commission issued an administrative complaint to block CCS Corporation’s proposed $85 million acquisition of Newpark Environmental Services. According to the complaint, the proposed transaction was anticompetitive because it would consolidate two of the leading providers of waste disposal services for the offshore oil and natural gas exploration and production industry in the Gulf Coast Region, leading to higher prices and decreased service levels. In response to the complaint, CCS, a subsidiary of Red Sky, threatened to close down its operations in the Gulf Coast should the acquisition not receive the necessary regulatory approvals. The Commission filed for a preliminary injunction, and temporary restraining order in federal court. As a result, the parties abandoned the transaction, and the Commission dismissed its administrative complaint.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
0810170
Docket Number
9333
Nov06

FTC Market Manipulation Rulemaking

The Federal Trade Commission (FTC) staff will host a workshop on Thursday, November 6, 2008, to discuss the FTC’s proposed petroleum industry market manipulation rule and the comments received in...