FTC Won't Pause Challenge To $2.4B Tronox-Cristal Deal

Law360 (May 17, 2018, 8:18 PM EDT) -- The Federal Trade Commission on Wednesday rejected a bid to pause a challenge to Tronox Ltd.'s proposed $2.4 billion purchase of the Saudi-owned chemical mining company Cristal to allow for settlement negotiations, saying commission rules require a "specific settlement proposal" to stay a proceeding.

Tronox had sought to pause a review of its proposed acquisition of Cristal, the National Titanium Dioxide Company of the Kingdom of Saudi Arabia, scheduled to begin Friday, and temporarily withdraw the matter to a give the companies a chance to make their case to the commission that the acquisition would increase competition in the international titanium...

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