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Statement of Chairwoman Edith Ramirez and Commissioner Julie Brill Federal Trade Commission - In the Matter of Ferrellgas Partners, L.P., et al.
Federal Trade Commission Act
Clayton Act
FTC Seeks Public Comment on Petition to Modify EQT, Quantum Energy Order
PepsiCo Inc., FTC v.
FTC Reopens and Sets Aside Chevron-Hess Final Order
FTC Reopens and Sets Aside Exxon-Pioneer Final Order
Chevron/Hess, In the Matter of
The Federal Trade Commission took action to resolve antitrust concerns related to Chevron Corporation’s acquisition of rival oil producer Hess Corporation by approving a proposed consent order that would prohibit Chevron from appointing Hess CEO John B. Hess to its Board of Directors.
The FTC’s complaint alleges that Mr. Hess communicated publicly and privately with the past and current Secretaries General of the Organization of Petroleum Exporting Countries (OPEC) and an official from Saudi Arabia. In these communications, Mr. Hess stressed the importance of oil market stability and inventory management and encouraged these officials to take actions on these issues and speak about them at different events, the complaint alleges.
On July 17, 2025, the FTC reopened and set aside the final consent order involving Chevron Corporation’s proposed acquisition of Hess Corporation.
Exxon Mobil Corporation, In the Matter of
On July 17, 2025, the FTC reopened and set aside the final consent order involving Exxon Mobil Corporation’s proposed acquisition of Pioneer Natural Resources Company.
FTC Denies Sheffield’s Petition to Reopen and Set Aside the Exxon-Pioneer Final Order
Caremark Rx, Zinc Health Services, et al., In the Matter of (Insulin)
The FTC filed a lawsuit against the three largest prescription drug benefit managers (PBMs)—Caremark Rx, Express Scripts (ESI), and OptumRx—and their affiliated group purchasing organizations (GPOs) for engaging in anticompetitive and unfair rebating practices that have artificially inflated the list price of insulin drugs.
FTC Grants in Part, Denies in Part EnCap, Verdun, XCL Petition to Modify Order
EnCap/EP Energy, In the Matter of
The Federal Trade Commission will require the divestiture of energy producer EP Energy Corp.’s entire business and assets in Utah. The divestiture will resolve the agency’s allegations that EnCap Energy Capital Fund XI, L.P.’s proposed $1.445 billion acquisition of EP Energy Corp. would eliminate head-to-head competition between two of only four significant producers and otherwise harm competition for the sale of Uinta Basin waxy crude oil to Salt Lake City refiners. According to the complaint, the proposed acquisition could also increase the likelihood of collusion or coordination among the remaining competitors in the Uinta Basin. On Sept. 14, 2022, the Commission announced the final consent agreement in this matter.
On July 7, 2025, The Federal Trade Commission approved in part and denied in part a petition to modify the final consent order in this matter.
ACT and Giant Eagle; Analysis of Agreement Containing Consent Orders to Aid Public Comment
GTCR BC Holdings, LLC and Surmodics, Inc., In the Matter of
The Federal Trade Commission issued an administrative complaint to challenge GTCR BC Holdings, LLC’s acquisition of Surmodics, Inc., alleging that the deal, which seeks to combine the two largest manufacturers of critical medical device coatings, is anticompetitive. The FTC charges that private equity firm GTCR’s proposed acquisition of Surmodics would create a combined company controlling more than 50% of the market for outsourced hydrophilic coatings. These coatings are often used by medical device manufacturers and are applied to lifesaving medical devices such as catheters and guidewires.
The Federal Trade Commission filed an amended complaint adding the states of Illinois and Minnesota as co-plaintiffs in the Commission’s lawsuit challenging GTCR BC Holdings, LLC’s (GTCR) acquisition of Surmodics, Inc. (Surmodics). The amended complaint also adds GTCR, LLC as an additional defendant in the case.