Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Carpenter Technology Corporation's proposed $410 million acquisition of Latrobe Specialty Metals, Inc. would harm competition in the U.S. markets for two specialty metallic alloys used in the aerospace industry. The final FTC order requires Carpenter divest assets necessary for manufacturing the two alloys – MP159 and Aerospace MP35N – to another metals manufacturer, Eramet S.A.
The Commission vote approving the final order was 4-0-1, with Commissioner Maureen K. Ohlhausen not participating. (FTC File No. 111-0207, Docket No. C-4349; the staff contact is Scott Reiter, Bureau of Competition, 202-326-2886; see press release dated February 29, 2012.)
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