WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) has announced the withdrawal of its acceptance of a proposed consent order that would have required Energy Transfer Equity L.P. (ETE) to divest assets.
The order was in place to resolve allegations that the company’s proposed acquisition of The Williams Companies would have harmed competition. However, ETE terminated its merger agreement with Williams – making the consent order unnecessary.
The FTC said it believes that if the merger had worked out, it would have reduced competition in the market for “firm” – guaranteed pipeline capacity to deliver natural gas to different points along the Florida peninsula.
The FTC voted 3-0 to close the case and withdraw its acceptance of the consent order. The staff contact for this case is Brian J. Tepner.
The FTC says promoting competition is its the main goal and it also works to protect and educate consumers.