Judge Denies FTC Request To Block Western Refining-Giant Industries Merger

ALBUQUERQUE (AP) – A judge has rejected a request by federal regulators to block Western Refining’s proposed$1,300,000,000 acquisition of Giant Industries.

US District Judge James Browning today refused a request by the Federal Trade Commission for a preliminary injunction to halt the sale.

The judge also has dissolved a temporary restraining order that was issued April 13th. The FTC said late today it plans to appeal.

The agency contends Western Refining’s proposed buyout will reduce competition and cause higher prices for the bulk supply of gasoline in eleven northern New Mexico counties.

Western Refining and Giant contend the sale will drive down gasoline costs by merging assets. As for the government’s claim the merger will eliminate a competitor, lawyers say the companies already have been cooperating for years.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

AP-NY-05-29-07 1708EDT