The US FTC challenges, for the first time, private-equity firms acquiring a minority interest in one firm while holding a partial ownership interest in a rival firm and requires certain conduct remedies to protect competition in the market for gasoline terminaling services (Carlyle / Kinder Morgan)

United States of America, Mergers, Competition Authority, Consent Order, Access to information, Anticompetitive effect, Barriers to entry, Coordinated effects, Geographic market, Prices increase, Unilateral effects, Vertical restrictions, Other services, National provision prohibiting anticompetitive agreements On January 25, 2007, the Federal Trade Commission (“FTC”) announced that it had challenged the investments of two private-equity firms participating in the proposed $22 billion management-led buyout of Kinder Morgan, Inc. (“Kinder Morgan”) [1] The FTC’s concerns stemmed from the fact that the two private-equity firms, through a joint venture, held a partial ownership interest in Magellan Midstream Partners L.P. (“Magellan”), a competitor of Kinder Morgan. As a result, the FTC alleged

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  • Weil, Gotshal & Manges (Washington)
  • Weil, Gotshal & Manges (Washington)

Quotation

Laura A. Wilkinson, Jeff L. White, The US FTC challenges, for the first time, private-equity firms acquiring a minority interest in one firm while holding a partial ownership interest in a rival firm and requires certain conduct remedies to protect competition in the market for gasoline terminaling services (Carlyle / Kinder Morgan), 14 March 2007, e-Competitions March 2007, Art. N° 53253

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