US FTC: Hoechst and Rhone-Poulenc settle FTC charges th that merger would violate antitrust laws.

0 Comments | M2 Presswire, December, 1999

M2 PRESSWIRE-10 December 1999-US FTC: Hoechst and Rhone-Poulenc settle FTC charges that merger would violate antitrust laws (C)1994-99 M2 COMMUNICATIONS LTD RDATE:071299 * Agency Mandates Divestiture of Thrombin Inhibitor Drug and Specialty Chemicals The Federal Trade Commission today announced the proposed settlement of antitrust charges that the merger of Hoechst AG and Rhone-Poulenc S.A.

would violate federal law. Under a proposed merger agreement Hoechst and Rhone-Poulenc would combine most of their respective businesses. The merged entity would be renamed Aventis S.A. In order to settle the FTC's concerns, Hoechst and Rhone-Poulenc would be required: (1) to divest its interest in Rhodia, its speciality chemicals subsidiary that produces cellulose...