Las week the ACCC reported that it will investigate the proposed creation of the world’s biggest titanium dioxide producer through the $US1.7 billion merger of US based Tronox and Gulf based Crystal.
Tronox is the world’s number six producer and Crystal second behind DuPont making this union interesting for antitrust regulators. The US company is claiming massive synergy benefits which is often a red flag for merger deals with antitrust authorities as it indicates competitive benefits.
Separately BP has formally commenced its attempts to get clearance for its $1.8 billion purchase of the Woolworths petrol stations.
BP which will become the biggest retailer in Australia after the deal made a formal submission on Friday which will trigger a formal inquiry into the deal.
Full Content: The Australian
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