Huntsman, Tronox file for US anti-monopoly approval on plants bid

25 September 2009 22:01  [Source: ICIS news]

HOUSTON (ICIS news)--Huntsman and Tronox have filed for US anti-monopoly approval in connection with the $415m (€282m) stalking horse bid for several Tronox titanium dioxide (TiO2) plants, Huntsman said on Friday.

Last week, a US bankruptcy court approved Tronox’s bidding procedures, including a public auction scheduled for 8 December in which Huntsman’s bid will serve as the floor.

Tronox will then seek the court’s approval for the sale of the assets to Huntsman or any other successful bidder at a 10 December sale hearing, it said.

If approved, the sale would likely close within the following 30-45 days, Tronox spokesman Robert Gibney said.

($1 = €0.68)

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By: Ben DuBose
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