trending Market Intelligence /marketintelligence/en/news-insights/trending/6oniegavjglpxlwqq5woma2 content esgSubNav
In This List

Tronox to appeal US court's decision blocking Cristal deal


Insight Weekly: SPAC momentum builds on; higher rates fear; copper prices rebound


Greenhouse gas and gold mines - Emissions intensities unaffected by lockdowns


Q&A: U.S. Battery Storage and Global Battery Metals Trends Webinar


S&P Capital IQ Pro | Powering Your Edge

Tronox to appeal US court's decision blocking Cristal deal

A U.S. court granted the Federal Trade Commission a preliminary injunction blocking Tronox Ltd.'s US$1.67 billion acquisition of the titanium dioxide business of The National Titanium Dioxide Co. Ltd., or Cristal, Reuters reported Sept. 5.

The FTC, which first objected to the deal in 2017, recently filed a complaint in the District Court of Columbia, saying the transaction violates antitrust laws.

Tronox plans to appeal the decision and request an expedited hearing.

Meanwhile, the company will also consider whether to proceed with the sale of Cristal's Ashtabula titanium dioxide production complex in Ohio to Venator Materials PLC.

In mid-July, Tronox inked a binding memorandum of understanding with Venator to negotiate a definitive deal for the US$1.1 billion sale of the complex.

Tronox also agreed to sell its 8120 paper-laminate product grade to Venator to secure regulatory approvals for the Cristal transaction.