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The U.S. Federal Trade Commission has given the go-ahead to a joint venture by The Dow Chemical Co. and Reichhold Inc. that will be based in the Research Triangle Park.

Reichhold Inc. is in talks to sell its industrial adhesives unit, which accounted for $250 million in sales last year, as part of a restructuring effort that will enable it to focus on its core businesses.

Nippon Sheet Glass, a large Japanese manufacturer, has increased its holding in Pilkington, the UK glass group, from 10 to 21 per cent over the past fortnight, but has ruled out mounting a full bid.