FTC Approves Quaker Chemical - Houghton Deal - Quick Facts

(RTTNews) - Quaker Chemical Corp. (KWR) and Houghton International have received approval from the United States Federal Trade Commission for their merger. The approval is subject to the divestiture of certain product line. The deal is expected to close on August 1, 2019.

Quaker and Houghton have agreed to divest certain products and related assets to a subsidiary of French multinational corporation Total S.A., to settle FTC charges that the proposed acquisition would violate federal antitrust law.

Quaker Chemical plans to file its second quarter earnings release and information on the combination after market close on August 1, 2019.