FTC Sues to Block Off-Shore Oil Waste Disposal Acquisition

The FTC has sought a temporary restraining order in the Southern District of Texas to block the acquisition of Newpark Environmental Services by CCS Corp. while proceeding before the FTC go forward.  Both companies provide waste disposal services to the offshore oil and gas industry.  The FTC claims that the companies are close competitors and that the acquisition would result in higher prices.  CCS threatened to shut down its operations in the Gulf if the acquisition were not approved, but the FTC dismissed the threat as a pretext.

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