The Federal Trade Commission issued an administrative complaint challenging the merger of two top suppliers of chloride process titanium dioxide (TiO2), a white pigment used in a wide variety of products including paint, industrial coatings, plastic and paper. The FTC’s administrative complaint charged that Tronox Limited’s proposed acquisition of competitor Cristal, for $1.67 billion and a 24 percent stake in the combined entity, would violate the antitrust laws by significantly reducing com...