Federal court clears Dexter to sell businesses

WINDSOR LOCKS, Conn. (July 28)—A federal district court in Connecticut has given Dexter Corp. the green light to proceed with the sale of several business units—including the Dexter Frekote mold release activities—to Loctite Corp., according to Dexter. International Specialty Products Inc., a Dexter Corp. shareholder that has been involved in attempts to take control of the company, had sought an injunction to block Dexter from selling the assets without prior shareholder approval. According to Dexter, the federal court denied ISP´s injunction request, ruling that Connecticut law does not require Dexter to obtain shareholder approval for such a transaction.