FTC delays Oxy’s deal for Tenneco PVC unit.
The Federal Trade Commission won a temporary restraining order blocking Occidental Petroleum’s proposed $70-million acquisition of Tenneco’s polyvinyl chloride business. The commission concluded that “it had reason to believe that the proposed acquisition could substantially reduce competition” in three PVC resin product markets. The three markets are mass and suspension PVC, suspension PVC copolymer and dispersion PVC.
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