June 28 (Reuters) - Canadian chemical company Canexus Corp
CUS.TO said Canada's antitrust regulator had approved its
proposed buyout by rival Superior Plus Corp SPB.TO .
This comes a day after the U.S. antitrust regulator filed a
complaint to block the deal, saying the companies were two of
the three manufacturers of a chemical needed to whiten wood pulp
for paper production.
Toronto-based Superior Plus said in October that it would
buy Alberta-based Canexus for C$324.1 million to expand its
specialty chemicals portfolio.
Up to Monday's close, Canexus shares had fallen about 11
percent in the past 12 months, while Superior Plus shares had
fallen 20 percent.