Tronox Limited confirmed on Monday that the Federal Trade Commission has withdrawn the company’s proposed acquisition of The National Titanium Dioxide Company Limited’s titanium dioxide business from adjudication for the purpose of considering the proposed Consent Agreement. The transaction would then be able to be consummated if the proposed Consent Agreement were finally approved by the Commission.
The transaction, modified to include the proposed divestiture of Cristal’s North American TiO2 business to INEOS Enterprises, an INEOS division, has received widespread support from the North American pigment customers of Cristal and Tronox.
INEOS set to acquire Cristal’s North American Titanium Dioxide Business from Tronox