A Collaboration with University of Pittsburgh   

FTC settles monopoly complaint, clears way for $18B energy merger

[JURIST] The US Federal Trade Commission voted 4-0 Friday [FTC agreement, case history] to settle an anti-competitive practices complaint [Chevron press release] against Chevron [press release], allowing it to to acquire the Unocol [corporate website] energy company for $18 billion. The FTC complaint centered on the rights of Unocal to a patent for reformulated gasoline that could have increased gasoline prices by 6 cents a gallon in California, or over a half a billion dollars a year. The settlement includes an agreement by Chevron not to enforce patents of a Unocal subsidiary, Union Oil. AP has more.

Support JURIST

We rely on our readers to keep JURIST running

 Donate now!

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.