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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. On July 5, 2022, the Commission announced the final consent agreement in this matter.

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

Nvidia/Arm, In the Matter of

The Federal Trade Commission filed a law enforcement action to block U.S. semiconductor chip supplier Nvidia Corp.’s $40 billion acquisition of UK-based semiconductor design firm Arm Ltd., the largest transaction in the history of the semiconductor industry. The FTC’s action seeks to preserve competition in markets for computer chips used in datacenters and in automotive advanced driver assistance systems. The complaint named Nvidia Corp., Arm Ltd., and Arm owner Softbank Group Corp. In February 2022, Nvidia Corp. announced that it had terminated its proposed acquisition of Arm Ltd. (Arm) from SoftBank Group Corp, and the Commission dismissed the complaint.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
2110015
Docket Number
9404
Case Status
Closed

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...

Corpus Christi Polymers LLC, et al., In the Matter of

Following a public comment period, the Federal Trade Commission has approved a final order settling charges that three PET resin producers’ proposed $1.1 billion joint acquisition out of bankruptcy of an under-construction PET production facility would violate federal antitrust law.

Type of Action
Administrative
Last Updated

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