(Adds details)
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.
Alberta-based Canexus also said on Tuesday that it was in
talks with Superior Plus to potentially extend the closure of
the deal to allow the Toronto-based company to litigate the
action by the U.S. Federal Trade Commission.
When the companies announced the C$324 million deal in
October last year, they said the transaction was expected to
close on June 29.
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.