Chemical Cos. Defend $625M Merger Against FTC

Law360 (August 19, 2019, 5:20 PM EDT) -- Evonik Industries AG hit back against the Federal Trade Commission’s bid to block its $625 million purchase of PeroxyChem Holding Co. on Friday, telling a D.C. district court that the agency’s allegations about the hydrogen peroxide market are not based in reality.

Evonik and PeroxyChem filed substantially similar answers to the FTC complaint, arguing that the commission is looking at the products the companies make and their geographic markets all wrong. The result, they said, is that the agency has understated the level of competition in the industry and overstated the level of competition between the two companies.

“Evonik will demonstrate...

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