Owens Corning Merger OKd With Reservations

Law360, New York (October 26, 2007, 12:00 AM EDT) -- The U.S. Federal Trade Commission on Friday ordered Owens Corning to divest its North American continuous filament mat business if it wants to complete its acquisition of French building materials company Compagnie de Saint Gobain SA.

Under the terms of a consent order, which allows the $640 million merger to proceed, Owens Corning will sell its continuous filament mat business, along with related licenses and intellectual property, to South Carolina-based AGY Holding Co.

“Owens Corning and Saint-Gobain are direct and significant competitors in the North American...
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