A PYMNTS Company

Proposed FTC settlement for Carpenter-Latrobe deal calls for divesting assets for manufacturing aerospace metal alloys

By  |  February 29, 2012

A proposed settlement by the FTC requires Carpenter Technology Corporation to divest assets for manufacturing two metal alloys for its proposed acquisition of Latrobe Specialty Metals. The divestiture would settle charges that the deal would otherwise create a monopoly in the U.S. market for MP159 and Aerospace MP35N, two alloys used in the aerospace industry, in violation of the FTC Act and Section 7 of the Clayton Act. The $410 million deal would merge the only companies that makes the alloys. The settlement calls for divesting assets to Eramet, an integrated mining and metallurgy company.

    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.

    Source: FTC Press Release

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source