A PYMNTS Company

US: FTC approves conditions on merger of Tronox and Cristal

By  |  May 29, 2019
US: FTC approves conditions on merger of Tronox and Cristal

Following a public comment period, the Federal Trade Commission (FTC) has approved a final order settling charges that the acquisition by Tronox Limited of competitor Cristal would violate the antitrust laws by significantly reducing competition for chloride process titanium dioxide in the United States and Canada.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to the complaint, which was first announced in December 2017, Tronox’s proposed acquisition of Cristal, for US$1.67 billion and a 24% stake in the combined entity, would increase the risk of coordinated action among the remaining competitors and the likelihood of future anticompetitive output reductions by Tronox.

    Under the settlement, which was reached after the FTC won key victories before a federal court and an Administrative Law Judge in its case to block the transaction, Tronox and Cristal must divest Cristal’s North American titanium dioxide assets, thereby preserving competition in the market for this important and widely used compound.

    Full Content: FTC

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.