Following a public comment period, the Federal Trade Commission has approved a final order settling charges that three PET resin producers’ proposed US$1.1 billion joint acquisition out of bankruptcy of an under-construction PET production facility would violate federal antitrust law.
According to the complaint, which was first announced in December 2018, without a remedy, the proposed acquisition likely would substantially lessen competition in the highly concentrated North American market for PET resin.
The terms of the final order prevent the joint-venture partners—Alpek S.A.B., known as DAK, Indorama Ventures, and Far Eastern New Century—from using their joint ownership of the assets to act alone or in concert to exercise market power or to transmit competitively sensitive information beyond what is necessary to accomplish the legitimate purposes of the venture.
The Commission vote approving the final order was 5-0.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC and State Attorneys General Sue John Deere Over Repair Restrictions in Antitrust Case
Jan 15, 2025 by
CPI
Enbridge Wins Legal Battle Against Ducere’s Antitrust Allegations
Jan 15, 2025 by
CPI
GOP Pushes for Antitrust Authority Consolidation Under DOJ in New Legislation
Jan 15, 2025 by
CPI
Canadian Government Approves Bunge-Viterra Merger with Conditions
Jan 15, 2025 by
CPI
SEC Sues Elon Musk Over Delayed Disclosure of Twitter Stock Ownership
Jan 15, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand