ACCC to Investigate US$1.7 Billion Crystal-Tronox Merger Deal
March 12 , 2017
ACCC is all set to investigate the merger of Gulf based Crystal and US-based Tronox (US$1.7 billion deal), creating the largest producer of titanium dioxide of the world. While Crystal is the second largest producer of titanium dioxide, Tronox is the second largest in the industry. The merger may face roadblocks as Tronox claimed massive synergy benefits from the merger. Antitrust authorities consider it a red flag as it indicates competitive benefits. In another case, BP is expected to face a tough fight to get clearance for purchase of the Woolworths petrol stations at an estimated cost of $1.8 billion as it will make BP the biggest retailer in Australia.