ARKO Corp to roll back noncompete, divest retail fuel outlets in agreement with US FTC over Corrigan Oil deal
( June 14, 2022, 21:13 GMT | Official Statement) -- MLex Summary: ARKO Corporation and its subsidiary GPM have agreed to limit a noncompete agreement in connection with their year-old acquisition of 60 retail fuel outlets from Corrigan Oil, the US Federal Trade Commission announced. ARKO and GPM will also sell five retail fuel outlets in five local Michigan markets back to Corrigan. The proposed order to resolve legal issues with the deal also includes stringent prior approval requirements. The FTC claimed the acquisition harmed competition in five local Michigan markets for the retail sale of gasoline, and that the noncompete agreement harmed customers in local retail gasoline and retail diesel fuel markets throughout Michigan and Ohio.Statement and documents follow below:...
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