02 November 2009 15:50 [Source: ICIS news]
HOUSTON (ICIS news)--The waiting period for US anti-monopoly approval in connection with Huntsman’s $415m (€282m) stalking-horse bid for several Tronox titanium dioxide (TiO2) plants has expired, putting Huntsman one step closer to closing on the deal, the US producer said on Monday.
“We are pleased with the favourable outcome of FTC’s (Federal Trade Commission) review and that our agreement with Tronox can move quickly to closing upon successful conclusion of the auction process,” chief executive Peter Huntsman said.
A public auction has been scheduled for 8 December in which Huntsman’s bid will serve as the floor.
Tronox will then seek the ?xml:namespace>
If approved, the sale would likely close within the following 30-45 days, Tronox said.
($1 = €0.68)
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