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Article: FTC eyes American Hoechst plan to buy Celanese Corp. for $2.8B.
- Article from:
- Daily News Record
- Article date:
- November 14, 1986
- Author:
CopyrightCOPYRIGHT 1986 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FTC Eyes American Hoechst Plan To Buy Celanese Corp. for $2.8B WASHINGTON (FNS) -- The Federal Trade Commission is investigating the proposed acquisition of Celanese Corp.--one of this country's largest producers of man-made fibers--by American Hoechst, the U.S. subsidiary of Hoechst AG, a West German company, according to a government official.
As reported, American Hoechst has agreed to acquire Celanese for a total of $2.8 billion (DNR, Nov. 4, Page 1).
The investigation is being made under the Hart-Scott-Rodino Act, which requires that all large corporate mergers be reported to the government. The statute is designed to provide the government with the ...