The antitrust waiting period of Huntsman's acquisition of tenor has ended with different material combinations
according to Texas, the United States, its characteristics of non-Newtonian fluid; 5. The huntsman Corporation (NYSE: Hun) of thewoodlands, Texas, a secondary processing state, recently announced that the antitrust waiting period under the Hart Scott rodino antitrust law has ended with the acquisition of $415million in assets (including working capital) of tronox and its subsidiaries by Huntsman pigments, its wholly-owned subsidiary
Peter Huntsman, The president and CEO of Huntsman said, "we are very satisfied with the review results of the Federal Trade Commission, which is conducive to us and" our current data shows that the merger and acquisition agreement of trono and China's Cobalt company, which is heavily dependent on imports, has been further and rapidly promoted in the auction process. We believe that this auction and acquisition action will make customers, sellers, employees and shareholders of other affiliated enterprises get satisfactory results. "
huntsman and tronox will continue their efforts to complete similar approval procedures in other jurisdictions
according to the relevant provisions of Chapter 11 of the U.S. bankruptcy law, tronox and certain subsidiaries of the company voluntarily applied for bankruptcy reorganization on January 12, 2009. Huntsman subsequently signed a stacking horsebid with tronox to bid for its titanium dioxide assets. The stallkinghorse bid is the assets of a bankrupt company. The bankrupt company selects an interested buyer and receives a binding proposal with a higher bid through the auction process approved by the bankruptcy court. If Huntsman's acquisition agreement is finally approved by the buyer's bankruptcy court, Huntsman's tronox's asset acquisition still needs to be approved by the anti-monopoly law and other regulatory authorities
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