Tronox wants to haul FTC into court

Abstract

Titanium dioxide maker Tronox has filed a federal lawsuit in Mississippi seeking an injunction that would prevent the U.S. Federal Trade Commission from blocking its merger with Saudi rival Cristal. Tronox and Cristal agreed last February to a merger that would create the world’s largest producer of the white pigment. In December, worried about market concentration in the chloride process for producing high-quality TiO2, FTC said it would attempt to block the merger. Tronox accuses FTC of engaging in a time-consuming administrative process that won’t conclude before the merger agreement expires in May. Tronox says the merger will benefit consumers by reducing costs and allowing the company to increase production. Tronox wants FTC to make its case against the transaction in court.