Win-win acquisition of PeroxyChem was postponed due to the Federal Trade

On Friday, the Federal Trade Commission announced that it would file a lawsuit to prevent Wingchuang from acquiring PeroxyChem, the world's special peroxide producer. In this regard, Wingchuang will actively respond to the lawsuit.

"It is disappointing that the Federal Trade Commission has taken action to restrict the acquisition. At present, the competition in the hydrogen peroxide industry is particularly fierce, "said Ku Leman, chairman of Wingchuang. "PeroxyChem is geared to an attractive and fast-growing terminal market. Its products complement and complement the winning portfolio. The acquisition is an opportunity for Wingchuang to expand the field of special hydrogen peroxide and peracetic acid products, optimize the distribution network, achieve super-high efficiency, and increase production and sales. We are confident of winning the lawsuit and completing the acquisition. At the end of 2018, Wingchuang signed an agreement with One Equity Partners (JPMorgan Chase's private banking sector) to buy PeroxyChem for $625 million. The acquisition is scheduled to be completed in mid-2019. But since the Federal Trade Commission has filed a lawsuit, the acquisition could only be completed by the end of 2019.

"We still believe that the complementary and complementary business advantages of the two companies will bring new and considerable development opportunities for our customers and employees," said Bruce Lerner, President and CEO of PeroxyChem. Both companies will actively respond to the Federal Trade Commission litigation and prove to the court that the Federal Trade Commission lacks a correct understanding of the current market dynamics, especially the rapid development of PeroxyChem's core business, special hydrogen peroxide, and the synergies and customers of the two companies after the acquisition is completed. Household advantage. During this period, the two companies will operate as usual.