U.S. Oil-Recycling Deal Scrapped Following Antitrust Scrutiny

Clean Harbors Inc.’s plan to buy Vertex Energy Inc.’s oil-recycling assets was terminated amid increased antitrust scrutiny.

Vertex will pay a $3 million breakup fee, Clean Harbors said in a statement on Tuesday.

Clean Harbors agreed in June to pay $140 million for Vertex’s motor-oil recycling assets, subject to Federal Trade Commission approval. In September, the agency requested additional information on the proposed transaction.

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Gerson Freitas Jr. in New York at gfreitasjr@bloomberg.net

To contact the editors responsible for this story:
Catherine Traywick at ctraywick@bloomberg.net

Joe Carroll

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