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The FTC issued an administrative complaint (and authorized staff to seek a TRO and PI which have not been filed) challenging the merger of two top suppliers of chloride process titanium dioxide (TiO2), a white pigment used in a wide variety of products including paint, industrial coatings, plastic, and paper. The FTC’s administrative complaint charges that Tronox Limited’s proposed acquisition of competitor Cristal, for $1.67 billion and a 24 percent stake in the combined entity, would violate the antitrust laws by significantly reducing competition in the North American market (comprised of the United States and Canada) for chloride process titanium dioxide. The FTC alleges that the acquisition, if consummated, would increase the risk of coordinated action among the remaining competitors, and increase the risk of future anticompetitive output reductions by Tronox.

FTC Bureau of Competition Director Bruce Hoffman issued the following statement regarding the U.S. District Court ruling today that granted the FTC’s request for a preliminary injunction in the proposed merger of Tronox Limited and Cristal. The companies are top suppliers in the United States and Canada of chloride process titanium dioxide (TiO2), a white pigment used in paints, industrial coatings, plastic and paper:

The FTC charged that Boral Ltd. and LaFarge SA violated antitrust laws by establishing a joint venture, Monier Lifetile LLC, that combined their concrete roofing tile (CRT) manufacturing divisions. Boral and LaFarge are the two largest producers of CRT in the United States. To settle FTC charges that the joint venture would likely substantially reduce competition in the market for CRT, Monier Lifetile LLC agreed to sell production facilities in Arizona, California and Florida to CRH PLC.