FTC INTERVENES IN LUBRIZOL’S ASSET ACQUISITION IN 2007 FROM RIVAL LOCKHART
On February 26, 2009, the Federal Trade Commission (“FTC”) intervened in Lubrizol Corporation’s (“Lubrizol”) 2007 acquisition of oxidate assets from its rival The Lockhart Company (“Lockhart”).
On February 7, 2007, Lubrizol signed an asset purchase agreement with Lockhart to purchase Lockhart’s oxidate assets. Oxidate assets are chemical additives that are used to make rust preventives. This asset purchase agreement violated the FTC Act and the Clayton Act by significantly lessening competition in the oxidates market
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