Degussa blocked from purchasing DuPont Peroxide: DuPont opens bidding to other companies after surprise US objection.(E.I. Du Pont de Nemours and Co.)

Chemical Market Reporter, February, 1998 by Johnson, Dexter

DuPont opens bidding to other companies after surprise US objection. E.I. Du Pont De Nemours & Co. is entertaining offers for its hydrogen peroxide business after the Federal Trade Commission raised objections to its sale to Degussa AG. Although the agency has not officially rejected the deal, DuPont says FTC staff communicated to both companies that the sale will not be approved as it is presently structured.

The unexpected development comes as the industry is just beginning to stagger out of overcapacity, low operating rates and declining prices. Some producers announced fourth quarter earnings that were negatively impacted by peroxide's downturn in 1997, although DuPont maintains that its...

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