Polypropylene merger shaved a bit

The merger creates Montell Polyolefins. The agreement settles a complaint filed by the Federal Trade Commission that the original plan to combine all polypropylene operations of the two companies would constitute a virtual monopoly. The agreement identified Union Carbide Corp. as one FTC-approved buyer of Shell's operations that would still provide competition to Montell. The FTC decision is open for comment until March 11.