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US: FTC Challenges Canada’s Superior Plus and Canexus $982million merger

By  |  June 27, 2016

US antitrust regulators filed a complaint on Monday to block the proposed merger of Canadian chemical companies Superior Plus Corp. and Canexus Corp.

The US Federal Trade Commission said in a statement that the companies are among three major North American producers of sodium chlorate, a chemical used to whiten wood pulp for making paper.

Either company can pull out of the deal as of June 29 under the agreement, Superior said. Discussions to potentially extend that date are ongoing, they said in separate statements.

“Superior is confident that it has a strong case and remains prepared to present a vigorous defence,” the company said.

Toronto-based Superior said in October that it would buy chemicals and handling company Canexus Corp, based in Alberta, as it looked to expand its specialty chemicals portfolio.

Full Content: The Globe and Mail

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