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FTC moves to stop Newpark Environmental US unit sale

11/03/2008
The Federal Trade Commission voted on Oct. 23 to challenge CCS Corp.’s proposed $85 million acquisition of Newpark Environmental Services Inc.’s US operations, claiming it to be an antitrust violation.Commissioners authorized FTC’s staff to file a complaint in federal court seeking a temporary restraining order and preliminary injunction to block the cash transaction, which the two companies announced in April after an earlier proposed sale to Trinity TLM Acquisitions LLC fell through.Newpark Environmental Services is based in Metairie, La. and is a subsidiary of Newpark Resources Inc., which has its headquarters in The Woodlands, Tex., north of Houston. CCS is based in ...
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