Federal Trade Commission v. Peabody Energy Corp. et al.
The Federal Trade Commission (FTC) retained Nicholas Hill in its efforts to block the formation of a joint venture between Peabody Energy Corporation and Arch Resources as they sought to combine their Southern Powder River Basin (SPRB) and Colorado coal assets in a joint venture. The corporations are the largest producers of SPRB coal. Dr. Hill analyzed the potential competitive effects of the joint venture and determined that it would likely substantially reduce competition to supply SPRB coal. The parties abandoned their joint venture plans when US District Judge Sarah E. Pitlyk granted the FTC’s preliminary injunction. In granting the preliminary injunction, Judge Pitlyk wrote, “Dr. Hill cogently explained his execution of the [hypothetical monopolist test] and persuasively rebutted Defendants’ criticisms of it.”