US: FTC awarded injunction temporarily blocking Tronox’ acquisition of Cristal
On Wednesday, September 5, a US judge granted the Federal Trade Commission (FTC) a preliminary injunction blocking chemical maker Tronox’s pending acquisition of Saudi Arabian peer Cristal’s titanium dioxide business.
The FTC, which filed a complaint in July, first objected to the deal last year, claiming the merger would reduce competition in the market.
Tronox and Cristal are two of the three top suppliers of chloride process titanium dioxide, used to make paint, plastic, paper and other products, Reuters wrote.
“The Court’s ruling temporarily blocking Tronox’s proposed acquisition of Cristal is good news for North American customers of chloride process titanium dioxide, including paint and plastics manufacturers. We believe the proposed acquisition would significantly reduce competition for customers in the United States, and we look forward to a positive resolution of the administrative trial on the merits. That trial concluded on June 22, 2018, and post-trial briefing will end shortly, after which Administrative Law Judge D. Michael Chappell will issue an initial decision,” said FTC Bureau of Competition Director Bruce Hoffman in a statement.
Tronox responded that it intends to promptly file a notice of appeal and request an expedited hearing of its appeal to reverse the Court’s decision so Tronox may proceed with the merger. Simultaneous to its pursuit of an appeal, Tronox will be considering whether to proceed with the remedial divestiture of Cristal’s Ashtabula, Ohio, two-plant titanium dioxide production complex.
“Tronox is disappointed by the US District Court’s decision to further delay this output-enhancing combination designed to increase the supply of TiO2 for North American customers and position Tronox to succeed in a fiercely competitive global market,” said Jeffry Quinn, President and CEO of Tronox.
Full Content: Market Watch, Gov FTC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Public Interest Groups Push for Rehearing on FCC Net Neutrality Case
Feb 18, 2025 by
CPI
Australian Regulator Backs Virgin Australia-Qatar Airways Alliance
Feb 18, 2025 by
CPI
EU Scales Back AI Regulations to Compete with US in Global Tech Race
Feb 18, 2025 by
CPI
Democratic Lawmakers Raise Concerns Over Musk’s Task Force and Taxpayer Data Security
Feb 18, 2025 by
CPI
UK’s CMA Provisionally Approves Poultry Feed Merger
Feb 18, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon