The proposed buyout of MarkWest Energy by Marathon Petroleum just took a giant step forward after the Federal Trade Commission and the U.S. Dept. of Justice last Friday signed off on the transaction by granting an “early termination” of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). Such a notice means “you don’t have to wait the standard length of time for us to complete a review, we’ve completed it and we find nothing to object to.” Unitholders (the equivalent of stockholders) in MarkWest must still approve the buyout, but that doesn’t appear to be an issue…
The proposed buyout of MarkWest Energy by Marathon Petroleum just took a giant step forward after the Federal Trade Commission and the U.S. Dept. of Justice last Friday signed off on the transaction by granting an “early termination” of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). Such a notice means “you don’t have to wait the standard length of time for us to complete a review, we’ve completed it and we find nothing to object to.” Unitholders (the equivalent of stockholders) in MarkWest must still approve the buyout, but that doesn’t appear to be an issue…