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Article: Hoechst, FTC said near Celanese pact. (American Hoechst Corp.; Celanese Corp.)
- Article from:
- WWD
- Article date:
- February 18, 1987
- Author:
CopyrightCOPYRIGHT 1987 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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Hoechst, FTC said near Celanese pact
WASHINGTON (FNS) -- American Hoechst Corp. said Tuesday it is again delaying the deadline for its tender offer for Celanese Corp., amid reports that Hoechst and the Federal Trade Commission are close to settling the commission's opposition to the merger.
American Hoechst -- a subsidiary of Hoechst AG of West Germany -- said the deadline for expiration of its tender offer has been extended to Feb. 20 from Feb. 17 to permit further negotiations with the FTC.
Sources said Hoechst and the FTC are close to reaching an out-of-court settlement of the commission's proposed complaint in the case. The latest extension ...