WASHINGTON (Legal Newsline) — Debbie Feinstein, director of the Federal Trade Commission’s (FTC) Bureau of Competition, recently released a statement regarding Superior Plus Corp.’s decision to abandon its plans to acquire Canexus Corporation.

“The abandonment of this transaction means that Superior and Canexus will continue to compete as independent companies, and that is a very good thing for consumers,” Feinstein said. “Although many of us may never have heard of sodium chlorate, it is used in a range of consumer products including paper manufacturing, and the combination of Superior and Canexus likely would have led to higher prices.”

The FTC had voted 3-0 to file an administrative complaint and seek a restraining order against Superior’s proposed $982 million acquisition of Canexus. The FTC believed the merger would be anti-competitive, reducing competition in the North American market for sodium chlorate, which is used to bleach wood pulp that is then processed into paper, tissue, diaper liners and other products.

Federal allows the FTC to issue an administrative complaint when it has “reason to believe” that laws are being violated. The FTC acts on behalf of public interest.

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