Australian regulators deny Caltex-ExxonMobil deal for filling stations

12/1/2009 | Wall Street Journal, The

The Australian Competition and Consumer Commission has turned down Caltex's planned $278.5 million acquisition of ExxonMobil's gas stations in the country. The ruling delays Exxon's planned departure from its small-scale operations in Australia as well as hinders an attempt by Caltex to offset the burden on its refining segment by increasing its fuel sales.

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