For Release
FTC Statement on Amendment to Global Partners, Gulf Oil Acquisition
Global Partners LP recently announced an amendment to its equity purchase agreement with Gulf Oil Limited Partnership in response to antitrust concerns raised by the Â鶹´«Ã½ Trade Commission and the Office of the Maine Attorney General. Under the revised purchase agreement, Global Partners has abandoned its proposed acquisition of Gulf Oil’s petroleum terminal in South Portland, Maine.
In response to the revised equity purchase agreement, FTC Bureau of Competition Director Henry Liu issued the following statement:
“Robust competition at all stages of the petroleum products supply chain is critical to ensure affordable access to the fuels that power people’s vehicles and heat their homes and businesses. The FTC is pleased that Global Partners has abandoned its anticompetitive acquisition of Gulf Oil’s terminal in South Portland, Maine. This acquisition threatened to limit competition and increase prices, affecting consumers who use heating oil and diesel fuel in and around the Portland area. Many thanks to the FTC staff for their work on this matter and to the Office of the Maine Attorney General for their partnership throughout the investigation.â€
The Â鶹´«Ã½ Trade Commission works to promote competition, and protect and educate consumers. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can learn more about how competition benefits consumers or file an antitrust complaint. For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.