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FTC Blocks Oil Disposal Merger

HOUSTON (CN) - The FTC filed a federal antitrust complaint to block Red Sky Holdings' and CCS Corp.'s $85 million acquisition of Newpark Environmental Services. All the companies dispose waste for offshore oil and gas companies in the Gulf of Mexico.

Red Sky owns CCS; both are based in Calgary, Alberta.

Newpark is based in The Woodlands, Texas.

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