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American Securities Partners/Ferro, In the Matter of

The Federal Trade Commission has required Prince International Corp. and Ferro Corp. to divest three facilities used to make porcelain enamel frit, glass enamel, and forehearth colorants, as a condition of Prince’s parent company – American Securities Partners VII, L.P. – acquiring competitor Ferro Corp. for $2.1 billion.  According to the complaint, the acquisition as proposed likely would allow the merged firm to unilaterally raise prices for porcelain enamel frit in the North American market, and for forehearth colorants in the world market. It  also would eliminate Prince as an independent competitor in the world market for glass enamel, increasing the likelihood of coordination between the merged firm and its largest competitor, Fenzi Holdings SPV S.p.A.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
2110131
Case Status
Pending

FTC Appoints Substitute Monitor

Date
The Federal Trade Commission has appointed Gregory Heltzer as the substitute monitor to oversee the Decision and Order In the Matter of Corpus Christi Polymers LLC, et al. because the original monitor...

HeidelbergCement AG, et al., In the Matter of

The Federal Trade Commission is seeking to block Lehigh Cement Company LLC’s $151 million acquisition of rival Pennsylvania-based cement producer Keystone Cement Company, alleging the deal would harm regional competition in the market for the key ingredient used to make concrete.  The FTC alleges that the acquisition would harm competition in the market for gray portland cement in eastern Pennsylvania and western New Jersey, reducing the number of significant competitors from four to three. The administrative trial was scheduled to begin on Nov. 2, 2021, but on June 4, 2021, the FTC announced that the parties have abandoned the transaction.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
2010006
Docket Number
9402
Case Status
Closed

Evonik/PeroxyChem, In the Matter of

The Federal Trade Commission authorized an action to block Evonik Industries AG’s proposed $625 million acquisition of PeroxyChem Holding Company, alleging the merger of the chemical companies would substantially reduce competition in the Pacific Northwest and the Southern and Central United States for the production and sale of hydrogen peroxide, a commodity chemical used for oxidation, disinfection, and bleaching.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
191 0029
Docket Number
9384
Case Status
Closed

Evonik Industries AG, et al.

The Federal Trade Commission authorized an action to block Evonik Industries AG’s proposed $625 million acquisition of PeroxyChem Holding Company, alleging the merger of the chemical companies would substantially reduce competition in the Pacific Northwest and the Southern and Central United States for the production and sale of hydrogen peroxide, a commodity chemical used for oxidation, disinfection, and bleaching.

Type of Action
Federal
Last Updated
FTC Matter/File Number
191 0029

Quaker Chemical Corporation and Global Houghton Ltd., In the Matter of

Chemical companies Quaker Chemical Corp and Houghton International Inc. have agreed to divest assets to a subsidiary of French multinational corporation Total S.A., to settle Federal Trade Commission charges that Quaker’s proposed $1.4 billion acquisition of Houghton would violate federal antitrust law. According to the complaint, the proposed acquisition would harm competition in the North American market for aluminum hot rolling oil and associated technical support services; and in the North American market for steel cold rolling oils, and associated technical support services. Steel cold rolling oils include sheet cold rolling oil, pickle oil, and tin plate rolling oil. Under the proposed settlement agreement, Quaker must divest Houghton’s North American aluminum hot rolling oil and steel cold rolling oil product lines and related assets to Total. On Sept. 12, 2019, the FTC announced that it has approved a final order in this matter.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
1710125
Docket Number
C-4681

Chicago Bridge & Iron Company N.V., Chicago Bridge & Iron Company, and Pitt-Des Moines, Inc., In the Matter of

In an administrative complaint issued on October 25, 2001, the Commission challenged the February 2001 purchase of the Water Division and Engineered Construction Division of Pitt-Des Moines, Inc. alleging that the consummated merger significantly reduced competition in four separate markets involving the design and construction of various types of field-erected specialty industrial storage tanks in the United States. On June 27, 2003, an administrative law judge upheld the complaint and ordered the divestiture all of the assets acquired in the acquisition. In December 2004, the Commission approved an interim consent order prohibiting Chicago Bridge & Iron from altering the assets acquired from Pitt-Des Moines, Inc. except “in the ordinary course of business.” These assets included but were not limited to real property; personal property; equipment; inventories; and intellectual property. On January 7, 2005 the Commission upheld in part the ruling of an administrative law judge that Chicago Bridge & Iron’s acquisition of the Water Division and the Engineered Construction Division of Pitt-Des Moines, Inc. created a near-monopoly in four separate markets involving the design and construction of various types of field-erected specialty industrial storage tanks in the United States. In an effort to restore competition as it existed prior to the merger, the Commission ordered Chicago Bridge to reorganize the relevant product business into two separate, stand-alone, viable entities capable of competing in the markets described in the complaint and to divest one of those entities within six months. On January 25, 2008 the U.S. Court of Appeals for the Fifth Circuit upheld the Commission's order.  In November 2008, the Commission approved divestiture of the assets to Matrix Service Company.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
0110015
Docket Number
9300