FTC Tells Carpenter To Shed Assets To Seal $578M Deal

Law360, New York (February 29, 2012, 4:54 PM EST) -- The Federal Trade Commission said Wednesday that metals manufacturer Carpenter Technology Corp. will have to sell assets involved in the production of certain metal alloys to ease competition concerns over its $578 million acquisition of Latrobe Specialty Metals Inc., which closed the same day.

The FTC says the move comes as part of a proposed settlement resolving allegations that Carpenter's purchase of Latrobe would stifle competition in the U.S. market for metal alloys used in the aerospace industry.

The settlement requires that, in order to complete...
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