ADVERTISEMENT
2 /3 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

FTC takes Tronox and Cristal to federal court

by Alex Tullo
July 13, 2018 | APPEARED IN VOLUME 96, ISSUE 29

The Federal Trade Commission has filed a lawsuit in U.S. District Court in Washington, D.C., seeking a restraining order and an injunction preventing the titanium dioxide producers Tronox and Cristal from merging. Tronox agreed to purchase its white pigment rival, a subsidiary of Saudi Arabia’s National Industrialization Co., in February 2017 for $1.7 billion in cash, plus stock. In December, seeking to block the merger, FTC brought the case before an administrative judge, a process that hasn’t been completed. The European Commission approved the deal earlier this month, requiring only the divestiture of a business in paper-laminate-grade TiO2. Should the merger proceed, FTC says, Tronox and rival Chemours would have a commanding U.S. market share for high-value chloride-process TiO2. “The proposed acquisition would substantially increase concentration in an already concentrated market,” FTC says in its complaint. Tronox says the court date will provide “the company a forum to demonstrate how the proposed acquisition enhances the company’s competitiveness on a global scale.”

X

Article:

This article has been sent to the following recipient:

Leave A Comment

*Required to comment