FTC Pulls Chem Merger Challenge As It Mulls Court Loss
Law360 (February 12, 2020, 6:23 PM EST) -- The Federal Trade Commission hit the brakes Tuesday on the agency’s in-house challenge of Evonik's planned $625 million purchase of fellow hydrogen peroxide producer PeroxyChem, a procedural move as the agency mulls its next steps following a D.C. federal judge’s refusal to freeze the merger.
The commissioners issued a two-page order withdrawing the administrative law challenge from adjudication, acceding to a request from the companies unopposed by FTC complaint counsel pursuing the effort to stop the merger. That means, according to the order, “that all proceedings before the administrative law judge be and they hereby are stayed.”
An agency spokesperson cautioned...
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