The Federal Trade Commission last night issued an administrative complaint challenging Tronox’s acquisition of Cristal. The FTC’s administrative complaint charged that Tronox’s proposed acquisition “would violate the antitrust laws by significantly reducing competition in the North American market (comprised of the United States and Canada) for chloride process titanium dioxide. The FTC alleges that the acquisition, if consummated, would increase the risk of coordinated action among the remaining competitors, and increase the risk of future anticompetitive output reductions by Tronox.” The Commission added that it authorized agency staff to seek a temporary restraining order and preliminary injunction in federal court, if necessary, to maintain the status quo pending an administrative trial on the merits.