MONOPOLY CONCERNS: Evonik's PeroxyChem acquisition hits US regulatory hurdle

摘要

The US Federal Trade Commission(FTC)is suing to stop Evonik Industries’proposed purchase of rival hydrogen peroxide maker PeroxyChem Holding Company,citing concerns that the deal would lead to higher prices.The $625-mn sale by group One Equity Partners,announced in November last year,is aimed at giving Evonik above-average growth rates of around 6% in the hydrogen peroxide and peracetic acid markets.Evonik said it will”vigorously defend itself against the action of the FTC”.”It is disappointing that the FTC has taken this step to block the acquisition in the highly competitive hydrogen peroxide industry.We remain optimistic that we will prevail at trial and complete the acquisition,”said Mr.Christian Kullmann,Chairman of the executive board of Evonik.He described PeroxyChem's products as complementary to Evonik's rather than competing with them.