Tronox Drops Suit Against FTC on Cristal Deal

Tronox Ltd. March 7 voluntarily dismissed its lawsuit against the Federal Trade Commission contending that the agency is dragging its feet on its challenge to the company’s proposed merger to rival titanium dioxide maker Cristal.

Titanium dioxide is the primary ingredient in white paint.

Tronox took the unusual step of suing the FTC after it brought an administrative proceeding against Tronox’s proposed merger with Cristal. Tronox said the FTC’s attempt to block the deal — without also seeking a court order — violated the Administrative Procedure Act because an administrative proceeding would drag on for too long.

Tronox said the ...