US FTC challenges Tronox acquisition of Cristal

The US Federal Trade Commission (FTC) issued an administrative complaint challenging the merger of Tronox and Cristal. The FTC’s complaint charged that Tronox’s proposed acquisition of Cristal, for US$1.67 billion and a 24% stake in the combined entity, would violate antitrust laws by significantly reducing competition in the North American market for chloride process TiO2. The administrative trial is scheduled to begin on 8 May 2018.