French Takeover: An agreement to sell a...
French Takeover: An agreement to sell a New Jersey chemical plant has cleared the way for the $1.05-billion takeover of Pennwalt Corp. by French oil giant Societe Nationale Elf Aquitaine, the companies announced. The Federal TRade Commission said it had accepted an agreement that allows completion of $132-a-share deal through Stamford, Conn.-based AC Development Inc. The FTC said the agreement would become final after a 60-day comment period.
